Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
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Jun- 2022 -1 JuneClothing & Shoes
Frasers Group buys Missguided out of administration for £20m
Frasers Group plc has bought online women’s fashion retailer, Missguided, out of administration for a cash consideration of £20m. The group has acquired certain intellectual property of Missguided Limited (in administration), Mennace Limited (in administration) and Missguided (IP). Following the completion of the sale, the business will be operated by…
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May- 2022 -31 MayClothing & Shoes
Missguided collapses into administration, 140 jobs at risk
Online fashion retailer, Missguided, has fallen into administration after failing to secure a rescue bid for the company. According to the Guardian, the collapse puts approximately 140 jobs at risk, with over 80 employees having reportedly been made redundant immediately. Teneo Financial Advisory revealed Dan Smith, Daniel Butters and Benji…
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9 MaySupermarkets
Morrisons close to winning control of McColl’s amid last-ditch bid
Morrisons is thought to have won control of embattled retailer McColl’s after surpassing EG Group in a last ditch effort, according to Sky News. A deadline was set for 18:00 BST on Sunday for final bids, with EG Group thought well positioned for the purchase until Morrisons final hour bid.…
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6 MaySupermarkets
McColl’s collapses into administration, 16,000 jobs at risk
McColl’s has collapsed into administration in a move that places 16,000 jobs at risk, after lenders failed to extend its banking agreements. In a newly released statement, the retailer said it was “regrettably left with no choice” other than to appoint PwC as administrators, with the expectation that they intend…
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6 MaySupermarkets
McColl’s collapse ‘increasingly likely’, 16,000 jobs at risk
McColl’s has warned that it is “increasingly likely” that the group will collapse into administration, in a move that could place 16,000 jobs at risk. The group’s statement, which came in response to recent press speculation, said a third-party buyer would be sought if it was placed into administration, adding…
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Apr- 2022 -8 AprilClothing & Shoes
TM Lewin lender to rescue brand from administration
An investment vehicle owned by Petra Group has reportedly reached a deal to acquire TM Lewin after it collapsed into administration for the second time last month. According to Sky News, the lender to TM Lewin reached an agreement with Interpath Advisory to buy out the menswear brand, with sources…
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1 AprilNews
The Sofa Workshop ceases trading
The Sofa Workshop has collapsed into administration and has appointed Toby Banfield, David Baxendale and Zelf Hussain of PwC as administrators. The company, a mid-market UK upholstery retailer, has 16 stores across the UK. Despite achieving “significant” revenues, these have been outweighed by trading losses, especially in light of Covid-related…
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Mar- 2022 -31 MarchEconomy
UK GDP rebounds 1.3% in Q4 FY21
The UK’ gross domestic product (GDP) is estimated to have increased by 1.3% in the fourth quarter (Q4) of 2021 between October to December, meaning UK GDP is now 0.1% below pre-Covid levels. Annual GDP in 2021 is now estimated to have increased by a revised 7.4% compared to the…
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25 MarchNews
Prada makes three new appointments to management team
The Prada Group has announced three “strategic” appointments to its “top” management team. It revealed Andrea Bonini has been appointed as chief financial officer, Cristina De Dona has been named general counsel, whilst Diego Maletto is the retailer’s new internal auditing director. Starting from May 2 2022, Bonini will take…
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18 MarchClothing & Shoes
T.M. Lewin calls in administrators for second time in two years
T.M. Lewin has collapsed into administration for the second time in two years as trading continued to be impacted by the effects of the pandemic. The menswear retailer confirmed that Will Wright and Chris Pole from Interpath Advisory have now been appointed as the latest joint administrators to the group. …
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