Administrators from MCR have been called in at department store business
Sarah Bell and Steven Muncaster, partners at MCR are appointed joint
administrators, and confirmed the company will continue to trade as normal while
its position is reviewed and a buyer sought.
“Unfortunately the company has endured periods of financial loss. It has made
efforts following the recently announced closure of the Lewis’s store in
Liverpool, to seek new finance to restructure the business but has been
unsuccessful in finding a going concern solution. Like many retailers, it has
experienced a difficult trading environment during the economic downturn,” said
Vergo was established in 2007 and is based in Liverpool with a staff base of
942. It operates approximately 19 department stores including Lewis’s in
Liverpool, Robbs in Hexam and Derrys in Plymouth.
MPs launch probe into the sale of BHS that will look at role of auditors and accountancy firms in sale process
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Out of a dozen sectors profiled only oil and gas and manufacturing were deemed to have a higher than normal risk of insolvency
Colin envisions how the Austin Reed administration is unfolding behind closed doors