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13 February 2014 0 Comments
Posted in Corporate & Commercial, Opinion

More Liquidations Within Retail Sector

Author headshot image Posted by , Partner

Late last week, it was confirmed that a nationwide network of shopping centres and market halls, had become the latest in a large line of retail establishments to succumb to financial difficulties.

The company, whose headquarters were in Liverpool, operated 21 shopping centres and market halls throughout the UK. However, after facing significant losses as a result of rising costs and declining occupancy rates, they ceased trading this month and called in the liquidators.

Since being appointed, it has been announced that the liquidators have successfully assisted with the negotiations for the surrender of the leases for six of the centres, back to their respective landlords, guaranteeing their continued operation.

A further ten centres closed immediately, one was fortified by the company, whilst landlords at four other sites have expressed an interest in continuing operations.

As solicitors in London, we understand the legal implications of facing insolvency; and our cross-departmental team are also experienced in acting for investors, banks and other financial institutions, insolvency practitioners, creditors and other stakeholders throughout such a process.

Through our experience within such matters, our insolvency team are able to deal quickly, commercially and effectively with any issue which arises, who ever we are acting for.

For further details on any of the issues covered in this blog please contact Angela Stallard, Partner in Corporate and Commercial on 020 7583 2222.


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