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>
Moorfields saves Jack Holt from closure
Simon Thomas and Fred Satow, partners at Moorfields Corporate Recovery LLP and joint administrators to Jack Holt Ltd (“Holt”) are pleased to announce that following an intensive three week marketing period they have successfully completed a sale of the business and assets to Holt Marine Ltd. The sale is on a going concern basis saving a number of jobs and will allow the well established Holt brand to build on their historic success and flourish once again. Simon Thomas, Insolvency Practitioner of Moorfields commented on the sale: “There has been a large amount of interest in acquiring the business, with a number of competitive offers made. We are pleased with the outcome as it was the offer which represented the best outcome for the creditors of Jack Holt Ltd” A spokesman for Holt Marine commented on the purchase: “We are pleased to have purchased the business and continue trading under the Holt brand. It is important for us to move the new business forward by building strong relationships with both customers and suppliers”.Read more>
Moorfields assists Manor Hotel Dorset
Acting on behalf of Joint LPA Receivers Simon Thomas and Fred Satow from Moorfields Corporate Recovery LLP, Christie and Co is marketing the freehold interest of the Manor Hotel near Dorchester, Dorset, with offers in the region of £1.3m sought. Located near the West Dorset coast the 13-room hotel comprises a 65-cover restaurant, a 40-cover cellar bar, 15-cover conservatory, 14-cover main lounge, and nine-cover snug. Dating back to the 16th Century, the property, occupies an elevated position in the village of West Bexington, with direct access to the beach. Ed Bellfield, director at Christie and Co, said: “This a superb opportunity to acquire a long-established and formerly privately-owned business, which has attracted a robust revenue stream from leisure and weekend tourists. Set in a renowned and unique seaside location, we expect the Manor Hotel to generate a high-level of interest 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>
Moorfields appointed as joint administrators to garage door manufacturing business
"Simon Thomas and Fred Satow at Moorfields Corporate Recovery LLP were appointed joint administrators to BRP Group Limited on 25 March 2010 at the request of the directors. BRP Group Limited is a leading manufacturer of garage doors for the house building industry. It has operations in Bowburn, County Durham, Scunthorpe, Daventry, Brackley, Northamptonshire, Milton Keynes and Verwood, Dorset. The company has some 360 employees spread across the country. BRP Group Limited purchased the business from the Cardale Group in August 2009 and since then Nick Sibley, its principal shareholder has invested more than £3m to develop the business. Unfortunately the company has been unable to achieve sufficient sales in the current economy. Simon Thomas said "" BRP Group is one of the leading garage door manufacturers in the UK with a modern, computer - controlled production facility in Bowburn. We have already received a number of expressions of interest from likely buyers and are hopeful of achieving a speedy going concern sale. Please could interested parties contact us as soon as possible. Whilst we have regretably has to make a number of redundancies on our appointment, we are hopeful of achieving a going concern sale and preserving the remaining jobs. It is possible that any purchaser of the business may wish to re-employ staff we have had to release in the short-term"" Please contact Simon Thomas or Fred Satow on 0208 528 1090 Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists. Its clients range from small businesses and SME's to major multinationals."Read more>