Will the high street ever be the same?
Simon Thomas, Partner at Moorfields, explores where the issues really lie for retailers and restaurateurs in wake of recent closures and CVA’s.Read more>
Sale of Cardale Doors Group Saves Over 400 Jobs
Moorfields Corporate Recovery LLP (formerly RSM Bentley Jennison & Co LLP) is pleased to announce the sale of Cardale Doors Group, for an undisclosed sum, on 18 August preserving over 400 jobs. Simon Thomas and Fred Satow, partners in Moorfields Corporate Recovery LLP,were appointed Joint Administrators over the principal operating companies of the Cardale Group Limited either wholly or partially owned by it, on 14 July 2009. ??The combined business, which manufactures 45% of garage doors in the UK, comprises Wessex Garage Doors Ltd, Cardale Doors Ltd and Bowburn Limited, has been sold as a going concern. Over 400 jobs are preserved at sites including Luton, Verwood, Dorset, Brackley, Scunthorpe, Bowburn and Durham. Simon Thomas, Joint Administrator said, We are extremely pleased to have been successful in selling the businesses as a going concern, which is in the employees; best interests and maximises the potential return for the creditors, ultimately also safeguarding the jobs of over 400 workers. Nick Sibley of BRP Group said: I am delighted to have secured a future for these great brands and look forward to building upon the great traditions these companies have for outstanding products and services. BRP Group (Building Related Products) is a newly formed company which will work to extend its portfolio of products to provide its customers with ever increasing opportunities for profitable sales. Moorfields Corporate Recovery LLP is a leading provider of Corporate Advisory, Restructuring and Recovery services. Our highly skilled teams provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.Read more>