Pre-pack retailer Administration

Quantuma achieve the successful pre-pack retailer Administration of a regional sportswear and fashion retailer with 35 stores.

Overview:

  • Regional sportswear and fashion retailer with 35 stores in South West / Wales and Head Office in Somerset
  • Cash flow difficulties led to an inability to meet¬† taxes and pay suppliers with the company being days away from closure and the loss of 400 jobs
  • Accelerated negotiations with two interested parties drove the sale price above going concern values


Investment:

  • Secured creditor owed circa ¬£800k

Outcomes:

  • Business and assets sold to international brand with no immediate job losses or store closures
  • Successfully secured significant rates refunds on many premises and a six figure terminal loss relief claim
  • Secured creditor and all unconnected unsecured creditors paid in full

 

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