Administration news and archive

France's BHV department store enters receivership to secure recovery plan

The Paris economic activities court (TAE) has approved a request by BHV Marais management to place the department store into receivership. Known in France as redressement judiciaire, the court-supervised reorganisation procedure allows a business in financial difficulty to continue operating while it works towards recovery, rather than...

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Poundland faces administration as owner rejects rescue bid

Poundland has filed a notice of intent to appoint administrators after its owner, Gordon Brothers, rejected an offer to buy the discount retailer as a going concern, putting around 12,000 jobs at risk, according to the Financial Times. While Martin Property Group had submitted a rescue proposal, the deal failed to move forward. The notice gives...

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Australia's Cue Clothing Co enters administration after failed sale process

Australian womenswear group Cue Clothing Co has entered receivership and voluntary administration after a sale process failed to secure a buyer. The Sydney-based owner of Cue and Veronika Maine has appointed FTI Consulting as receivers and managers, with BDO acting as voluntary administrators. A new going-concern sale process has begun, while...

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Harvey Nichols creditors face uncertain recovery after administration

The main trading company of British department store Harvey Nichols owed an estimated 270.5 million pounds to unsecured creditors when it entered administration last month, with creditors expected to recover only a fraction of the money owed, according to a report from administrators FTI Consulting filed with the UK's Companies House. The...

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Russell & Bromley owes unsecured creditors 37.5 million pounds

British retailer Russell & Bromley owes 37.5 million pounds to unsecured creditors following its collapse into administration in January, according to a progress report from joint administrators Interpath seen by the media. The report, which covers the six months to 20 July, said unsecured creditors may receive a dividend, yet the amount remains...

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M&Co reportedly owed 46 million pounds before collapse

High street retailer M&Co is revealed to have owed unsecured creditors over 46 million pounds at the time of its collapse, with 1,800 jobs also reportedly lost. The Scottish company appointed administrators towards the end of 2022, two years after it had previously collapsed during the pandemic. At the beginning of 2023, its 170 stores were...

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French kidswear specialist Okaïdi exits administration

Lille - French kidswear retailer Okaïdi has exited administration after a court approved a recovery plan that has resulted in the loss of 244 jobs and the closure of 57 stores in France, the company announced on Tuesday. The brand has also ceased trading outside France, shutting 25 stores in Poland, 17 in Germany and two in Portugal, it told...

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BrandAlley secures rescue deal following administration

Online off-price fashion retailer BrandAlley has been acquired out of administration in a pre-pack sale, allowing the business to continue trading under new ownership. Administrators from BDO were appointed to BrandAlley UK on 29 May before completing an immediate sale of the business and most of its assets to BrandAlley International Limited, a...

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Quiz administrators confirm phased store closures as three locations shutter

Administrators for Quiz have confirmed further details of a phased closure plan for the company’s retail network, with all stores now expected to shutter by the end of June 2026. Locations in Castlecourt, Leeds and Romford have already closed, while the remaining 37 sites remain in operation. Interpath, who was appointed to oversee the process...

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Shoe brand Minelli announces permanent closure on May 30

Paris (France) - Shoe brand Minelli, which employs 86 people, announced on Wednesday its permanent closure after May 30. The company was placed into administration in March for the second time in three years. Its stores will remain open until the closing date. “It is with a heavy heart that we announce Minelli is permanently closing its doors,”...

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Minelli receives half a dozen mostly partial takeover bids

Paris (France) - The administration of footwear brand Minelli has resulted in half a dozen mostly partial takeover bids. These offers often include a few stores or just the brand name without its employees. This was confirmed by the Paris Commercial Court's website, following a report from French digital media outlet l'Informé. Potential buyers...

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JOTT: commercial court approves Amoniss' bid, sets sights on relaunch

A commercial court has ruled in favour of Amoniss' proposal in the JOTT case. After being placed into administration, the Marseille commercial court has selected the offer from the Amoniss group to take over JOTT (Just Over The Top), a French brand of lightweight down jackets positioned in the accessible premium segment. The successful bid...