TRADING OF A RETAIL BUSINESS IN A MAJOR SOUTH EAST SHOPPING MALL
Williams and Partners were engaged by an absentee Director to trade a retail childrenswear business prior to liquidation. A review was made of the two retail locations, one high street and one a major south-east shopping mall. As the period in question was during half-term holidays, the shopping mall location was chosen as the better option and stock was collected from the high street store and amalgamated on site.
The stock had been seized under The Taking Control of Goods Regulations 2013 and agreement was reached with both the bailiffs and landlord for the assets to be sold in return for a proportion of sales.
Williams and Partners contracted with the shop staff directly to retain their services and maintained an on-site presence throughout the 6 day trading period, during which over 90% of current season stock was sold during a closing down sale generating over 8 times the forced sale value of the goods.