Fashion chain Sixty UK has been placed into liquidation with Rob Horton and
Tony Murphy, from Bridge Business Recovery, appointed.
Sixty UK, which owns brands such as Miss Sixty and Energie, has been placed
in liquidation following a High Court ruling to revoke a previously approved
company voluntary arrangement (CVA) earlier this year.
Residing judge, Mr Justice Henderson ruled the landlords of Sixty UK were
offered inappropriate compensation in the CVA, put forward by Peter Hollis and
Nick O’Reilly then of Vantis.
Hollis and O’Reilly were appointed administrators to Sixty UK on 29 September
2008, and the CVA was approved in a creditors meeting in April 2009. Following a
High Court ruling the CVA was revoked in July 2010.
Horton said the liquidators would undertake a full inquiry into the company’s
affairs and would “vigorously” pursue recovery of funds.
“The inquiry will include the stewardship of the company by its board and
will extend to the conduct of the former administrators and supervisors and
their advisers,” he added.
Further reading:
Regulators
must act fast to avoid ‘stigmatising’ CVAs