Deloitte in at struggling Passion

Deloitte has been called in as administrators to Passion for Perfume ltd, which has run into cash flow problems due to challenging market conditions.

Bill Dawson and Ian Brown of Deloitte are searching for a buyer for the troubled retailer which was launched in 2004 and trades in 45 stores nationwide as well as online. Originally the management had tried to find a buyer for the company as a whole but were unsuccessful.

Bill Dawson, reorganisation services partner at Deloitte, said: 'We will continue to seek a buyer for the business and assets of the Company but do not intend to trade the business.'

The Manchester based company made 194 redundancies on New Years Eve including nine from the head office.

Further reading:

Deloitte called in for Wedgwood UK administration