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VALUE CLOTHING COMPANY RESCUED FOLLOWING HMRC PETITION

Licensed UK Insolvency Practitioners FREE Meeting for Company Directors We can help with serious company debts, HMRC and creditor pressure, VAT/PAYE/Tax arrears, cashflow problems and raising finance.

VALUE CLOTHING COMPANY RESCUED FOLLOWING HMRC PETITION


A Yorkshire-based value clothing company was sold by our team after the long established chain fell victim to the retail sector downturn. Moving quickly, they secured a buyer three days after appointment. HMRC had issued a winding up petition but liquidation would not be the best outcome, halting trade, losing goodwill and increasing preferential creditors through significant redundancies.

Administration enhanced goodwill, ensured customer continuity and retaining most staff. 

This prompt ‘going concern’ sale allowed 49 stores in leasehold premises to go on trading, protecting over 240 jobs and minimising creditor claims.

Contact our team

Jonathan Munnery
Andrew MacKenzie
Julie Palmer
Thomas Mckay
Keith Tully
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