Leading Restructuring and Insolvency experts Moorfields Advisory appointed Administrators over bespoke high-end tailors
Simon Thomas and Arron Kendall of leading restructuring and insolvency firm, Moorfields Advisory, have been appointed joint administrators over high-end tailor English Cut Limited on 31st July 2017.
Simon Thomas, Joint Administrator has issued the following statement
“Moorfields are continuing to trade the business and are in the process of marketing English Cut for sale with a view to preserving the brand, orders and jobs. At this stage there have been no redundancies.
English Cut has a solid reputation and a loyal client base and we are pleased to say that there have been expressions of interest in the business. We remain hopeful that a sale can be achieved and the business rescued in the near future.
We are continuing to see retailers struggle with the ongoing issue of business rates, despite promises of support from the Chancellor in March many businesses still have not seen any adjustment to their bills and if they have, it has done little to compensate for the huge rate hikes they have paid for years. In addition, retailers are having to contend with inflationary pressures on disposable incomes and living wage increases affecting staff costs. “
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Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations.View all Our News