The online designer furniture and homeware retailer went into administration in January with the loss of 23 jobs, reports CRR. A spokesperson for Bensons for Beds said: "Bensons for Beds emerged as a standalone retailer following the restructuring deal that injected £25million of new investment which is being used to grow the business. But which UK stores have already gone into administration in 2020? From insta ‘shop windows’ to launching in lockdown, we ask three Devon indie shop owners how they have coped through the pandemic. The deal will transfer around 450 jobs to Adena Brands, owned by Mr Simon, which has promised to inject £15million into the business to allow the remaining stores to stay open. For some — including Payless, Gymboree and Charming Charlie — it was their second trip to court. Visit our email preference centre to sign up to all the latest news from BusinessLive. The two companies were put into administration after a two-week deadline to find a buyer passed. "It is our intention to continue to trade whilst working closely with management to explore the options for the business. He told the BBC the collapse was "very sad for the staff, the city of Norwich and the customers". Sir Philip Green's Arcadia Group went into administration on Monday, November 30, putting 13,000 jobs at risk. Lucky’s went into liquidation at the end of January as it struggled to compete with Whole Foods, Publix, and other larger chains. No redundancies have been announced yet and no stores have closed. The company continues to trade and existing orders will be carried out, CRR said. According to the CRR, most of its 450-strong workforce were made redundant. “With a second wave of the pandemic underway, we have seen a record increase in the number of shuttered shops," said Helen Dickinson, chief executive of the British Retail Consortium. J.C. Penney. The bakery chain was sold out of administration in a pre-pack deal in mid-June. Check if a company is being wound up (liquidated) - you’ll need the company’s name or registration number to carry out a search. ... operator of concessions in Debenhams stores and went into administration on November 30, 2020. It said there would be no immediate redundancies. The group reportedly said 822 of the 915 staff affected by the decision will remain with the group. On top of that, the forces that pushed dozens of retailers into bankruptcy over the last four years or so are still present. Lee Longlands was founded in Birmingham in 1902 by Robert Lee and George Longland and they opened their first store at 304 Broad Street, taking advantage of its location next to the canal to bring in timber. Mr Simon will try to renegotiate with landlords to get a better deal on the remaining 162 store leases. Public Notices. Four Lewis's Home Retail outlet department stores were reportedly sold through a pre-pack sale to LHR Holding, saving more than 150 jobs. It s not yet clear how many jobs could be affected. The department store chain collapsed into administration in January after failing to find a last-minute buyer to rescue the 139-year-old business. The Gloucester-based glasses company went into administration in July, but Bath-based designer eyewear firm Inspecs bought up the manufacturing arm of the business from administrators BDO for £2.4million. All the retailer’s high street stores are currently closed due to lockdown and 1,669 staff have been furloughed on the government’s job retention scheme. Turnaround company Alteri, Benson's existing owner, bought the business out immediately and put £25million into the company to invest in its development, according to the CRR. Blitz, a GES company, goes into liquidation By Guy Campos in Business , Covid-19 , Live Events , UK&I August 19, 2020 0 Founded in 1989 and bought by GES in 2014, Blitz was appointed as a technical production partner by many of the most prestigious venues in the UK. All concessions and stores were closed temporarily in line with government guidance - and there are reportedly no plans to re-open them, according to Drapers. Publication Date 9 Dec 2020: 7 PSYCHO’S LIMITED (in liquidation) 2020-al5665 Preview A roadie company that worked with some of the biggest names in music has gone into liquidation due to Covid-19 border restrictions, resulting in a … The chain has 25 shops in the UK, which are currently closed in line with government lockdown rules. Debenhams said its administrators, FRP Advisory, had "regretfully concluded that they should commence a wind-down of Debenhams UK, whilst continuing to seek offers for all or parts of the business.". DW Sports operated 73 gyms and 75 retail sites across the UK. The listings included on this page are of companies that have gone into administration, CVA or liquidation. Publication Date 10 Dec 2020: 3D FOOD INVESTMENTS LIMITED (in liquidation) 2020-al5640 Preview. Appointed: 08 January 2020. The company owns a number of major brands including Topshop, Dorothy Perkins, Burton and Miss Selfridge. Women's clothing chain Bonmarché fell into administration on Wednesday, December 2, for the second time in just over a year, putting more than 1,500 jobs at risk. "Shopping centres fared the worst among retail sites due to the higher proportion of fashion outlets, where consumer demand has been hit hardest. “We as a management team have done everything we can to try and save the iconic brands that we love.”. Company facing liquidation has no reputation. The retailer employed around 1,000 people. Our. Hannah has nearly a decade's experience reporting on the business scene in the UK. The liquidation of the 240-year-old business came just a day after Philip Green’s Arcadia group, the owner of brands including Topshop, Miss Selfridge and Wallis, collapsed into administration. Status: In Liquidation. The high-end furniture chain has appointed financial services firm Duff & Phelps as administrator while it continues to battle the effects of the coronavirus pandemic and lockdown. Ascena Retail Group: 1,100 stores. The company said its income was hit by the Government-enforced closure of gyms and stores due to the Covid lockdown. ... under a new company Zany Zeus 2020 … Liquidation is one option for insolvent companies – i.e., companies that can no longer pay its debts. However, according to administrators Springfields Advisory, it was not possible to sell several smaller outlets, reportedly leading to 80 redundancies and five store closures. Alistair Wardell and Richard Lewis were appointed to oversee the winding up of the company, according to Access and Mobility Professional. Zelf Hussain, Peter Dickens and Yulia Marshall of PwC were appointed as joint administrators. The furniture company reportedly went into administration at the end of March. LHR Holding owns 18 TJ Hughes-branded department stores nationally, as well as tjhughes.co.uk, and they were not affected. The online business is performing very well.". Two Keys Tavern Bar in … Compulsory and voluntary liquidation, the liquidation process, how liquidation affects company directors and the role of a liquidator Speaking in April, Hash Ladha, chief executive of Oasis Warehouse, said: “This is a situation that none of us could have predicted a month ago, and comes as shocking and difficult news for all of us. Auditing firm Deloitte has been appointed as administrator and is now seeking a buyer for the business. Discover announcements from companies in your industry. When you subscribe we will use the information you provide to send you these newsletters. The retailer of shirts and ties went into pre-pack administration in June, according to the CRR. The retailer is to close all of its UK stores and around 600 workers will lose their jobs after the firm said it was going online-only in a bid to save the 120-year-old brand. The firm has stores in locations across the country, including in Southport and Wolverhampton. Non-essential shops in England reopened on December 2 after weeks of being closed under national restrictions. Bankruptcy also proved fatal for more retailers in 2019, as liquidations increased. Food-on-the-go giant Greggs has announced that it is to shut all of its shops. The first thing you should know is that there are in fact two ways a company can go into liquidation – voluntarily, through a procedure known as a Creditors’ Voluntary Liquidation (CVL), or involuntarily, ... 4th December 2020. But for many retailers closure at the busiest trading period of the year could come at a high price. As such, when the liquidation process is initiated the business stops trading. The high street was under pressure before the pandemic - and many retailers are now struggling to survive. Some 4,700 jobs are now at risk. The retailer, which operated online, has experienced two pre-pack administrations before - in 2009 and 2011. The UK arm of Candadian footwear chain Aldo went into administration in May. In all, retailers closed more than 9,500 stores last year. The pandemic has ushered in a wave of bankruptcies as retailers struggle to pay rent, vendors and other expenses. The fashion retailer went into administration in mid-March but US-based restructuring company Gordon Brothers bought the chain out of administration in April. However, the owner of Cath Kidston has secured a deal to buy back the brand and its online operations, but this does not include bricks-and-mortar shops. Arcadia has 444 UK stores and another 22 overseas, and more than 9,000 of its employees on currently on furlough. Canberra building company Banyan Constructions has been placed into liquidation with debts of more than $21 million. The two companies were put into administration after a two-week deadline to find a buyer passed. The following post will continue to be updated to reflect the current major retailers that have filed for bankruptcy protection in 2020. The free newsletter covering the top industry headlines. Jaeger runs 76 stores and concessions and has 347 employees while Peacocks has 4,369 staff across 423 stores. Johnsons Shoes operates 12 stores under the brands Johnsons Shoes and Bowleys Fine Shoes. The company was forced into liquidation earlier today despite several court bids to save the iconic company By Sara Scarlett For Mailonline Published: 12:14 EST, 5 March 2020 | … The luxury luggage retailer, which was founded in 1914, went into administration last month and 164 people were made redundant. It is understood that the collapse of the deal is partly linked to the administration of Arcadia Group, which is the biggest operator of concessions in Debenhams stores. RSM Restructuring Advisory, which has been appointed to handle the administration, said all of Bonmarche's 225 stores will remain open and there are no redundancies yet as it looks to agree a rescue deal. A total of 35 stores are also expected to close across the UK. It reportedly said in a message to staff that it was “speaking to a number of parties” interested in investing or acquiring parts of the business, the FT said. Dubai Financial Market-listed contracting giant Arabtec Holding will go into liquidation, Construction Week's sister title Arabian Business has reported. This year started off with the parent of fine paper specialist Papyrus quietly going into liquidation before filing for bankruptcy, with home decor staple Pier 1 not far behind with its own, more uncertain, filing. The industry is approaching a record for filings this year, and others are still vulnerable as the economy, pandemic and retail evolution take their toll. Hannah Baker is BusinessLive's South West Editor. The sportswear and gym retailer, owned by Dave Whelan, fell into administration in August, putting, 1,700 jobs put at risk. Because of this, it is important to keep in mind that liquidation is just one very clear indicator that a company … Bureau, its office-oriented associate business, continues to trade and is not affected by Houseology's administration. Norville's operations were undertaken mainly at the company’s headquarters in Gloucester, with smaller bases in Bolton, Seaham and Livingston. The administrators said they would now look for "one or more" buyers to secure the future of the business. The retailer appointed Deloitte as administrators after the pandemic “severely impacted” sales, it said. The retailer, which operates 105 showrooms in the UK, had been struggling with “adverse trading conditions” caused by the Covid-19 pandemic, according to administrators Deloitte. A company goes into liquidation when a registered liquidator is appointed to conduct the winding-up of a company and the liquidation of its assets. We monitor all UK insolvency activity and provide daily updates on the latest companies in liquidation. Appointment/Release of Liquidators. The company has $595 million of debt due within a year and $571 million of interest due. "We are in advanced discussions with a number of parties and working hard to secure a future for both businesses.". “In 2020 further announcements from companies that have already gone through CVAs or administrations may well result in cutbacks on their existing operations,” he said. According to the FT, this week the EWM was given more time to find buyers or new investors as an alternative to putting it into administration. The company behind Oasis and Warehouse went into administration in April. into bankruptcy. The chain of hearing and mobility stores reportedly called in Grant Thornton as administrators in January. Why is the department store chain going into liquidation? This year started off with the parent of fine paper specialist Papyrus. "The uncertain climate has also meant that even those looking to expand are holding off making investments in new stores. The oil and gas company said it plans to convert more than $2.3 billion in senior notes into new equity, which would account for 97% of the reorganized company's ownership. The retailer has stores in Windsor, Newbury, Staines, Teddington, East Sheen, New Malden, Twickenham, Walton-on-Thames, Northwood, Richmond, Beaconsfield and Farnham. According to a report by The Telegraph, accountancy firm BDO was attempting to find a buyer after the firms’ turnover reportedly dropped from £70million in 2018 to £43million. The sector has been in decline for some years, but the pandemic has accelerated the downturn and many once-thriving retailers are now struggling to survive. However, the company was snapped up by homeware brand Olivia’s - part of the Moot Group - for an undisclosed sum, according to Insider.co.uk. In the next financial year the Government is set to extend the retail discount on business rates to 50% in England, from 33% in the 2019/20 year, says a real estate adviser. Debenhams confirmed it had formally entered administration at the start of April. Then all stores had to close because of the coronavirus lockdown. Sometimes they’ll include recommendations for other related newsletters or services we offer. Why do companies go bust? It should be noted that a company “failing” or closing down is not the same thing as one going … "The family business could not continue trading.". Peacocks and Jaeger, which are part of the Edinburgh Woollen Mill (EWM) Group, fell into administration on Thursday (November 19) after failing to find a buyer. M&Co said it would continue to operate with 218 stores and 2,220 employees after completing the restructuring, having hired Deloitte as administrators in April. explains more about how we use your data, and your rights. The retailer had three standalone stores in Newcastle-under-Lyme in Staffordshire, Bideford in Devon, and Tillicoultry in Scotland, as well as more than 100 concessions across the UK. JD Sports bought back its Go Outdoors business for £56.5million after pushing it into administration in June. The UAE-based company met at an annual general meeting (AGM) on Wednesday, 30 September 2020… Notice is given that a general meeting of the Company, or a general meeting of each of the Companies, (for multiple companies), will be held: This year, retailers are facing even tougher challenges, as the coronavirus outbreak caused most U.S. retail to temporarily shutter, keeping customers away, and forcing retailers to negotiate with landlords and suppliers to tackle unforeseen inventory and liquidity issues. retailers have filed for bankruptcy in 2020 so far: By signing up to receive our newsletter, you agree to our, The running list of 2020 retail bankruptcies, Acxiom & diwo Partnership Goes Beyond Marketing, Delivers Business Optimization Solutions, TACORI Names Proven Growth Strategist + Top Brand Exec to New Chief Commercial Officer Role, Brightpearl to Power Shopify’s eStore Lineup of Retail Hardware, The Poirier Group Recognized As One Of 2020 Canada’s Most Admired Corporate Cultures™, 17 retailers that could go bankrupt as the COVID-19 era wears on, After landing $1B in revenue, Lululemon preps for footwear launch, Costco reports strong comps, net sales as foot traffic recovers, 'Trouble brewing' for malls, including Brookfield and Simon: S&P Global, Walmart looks to play role in COVID-19 vaccine rollout, Designer Brands mulls the closure of as many as 80 stores. 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