Leonard Curtis restructuring sees jobs saved at Blue Inc
Blue Inc offloaded a number of leases by placing its subsidiary, A Levy & Son, into administration
Blue Inc offloaded a number of leases by placing its subsidiary, A Levy & Son, into administration
INSOLVENCY outfit Leonard Curtis has helped secure the jobs of 1,500 staff at troubled menswear chain Blue Inc.
But some 580 jobs were lost and around 70 stores closed.
Blue Inc offloaded a number of leases by placing its subsidiary, A Levy & Son, into administration.
Neil Bennett and Alex Cadwallader of Leonard Curtis were appointed joint administrators to A Levy & Son on 19 January. Blue Inc will continue to trade from 158 stores after it bought the leases out of administration, securing some 1,500 jobs.
Neil Bennett, a director at Leonard Curtis, said that as a result of its intervention, Blue Inc “has protected the growth of the business by securing a more focused portfolio of stores, and thus, greater alignment with its customers as it continues to see the growth of online shopping as well as through bricks and mortar”.
A spokeswoman for Blue Inc said that while some of its stores had seen falling sales, the chain’s online offering had enjoyed a 50% uplift, reflecting a wider migration to shopping on the web.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourcePredictions of 800,000 UK insolvencies requires “sense-checking” says RSM, but leading insolvency body say it depends on the length of the crisis Read...
View articleThe NAO report revealed that Carillion's insolvency will cost the taxpayer £148m while PwC will net £50m, a figure that has been questioned by MPs Rac...
View articleLeonard Curtis Business Solutions Group has opened a new office in Glasgow – the first Scottish office for the professional services provider Read Mor...
View articleIn our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competiti...
View articleAIM-listed Bond International Software has had Kingston Smith and Partners appointed as liquidators. Read More...
View articlePartners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK Read More...
View articleInsolvency specialists Leonard Curtis Business Solutions Group (LCBSG) has introduced a legal services division Read More...
View articleInsolvency and restructuring firm CVR Global has expanded into Jersey Read More...
View article