Allied Carpets Properties has filed a notice of intention to appoint an
administrator, understood to be BDO Stoy Hayward,
It is unclear whether an administration of the property division would impact
on Allied’s core retailing operations. The business is in private equity hands
after being bought by Sigma Capital in March, a fund backed by Hilco.
Allied Carpets is the UK’s second largest floorings retailer. It is currently
in the final stages of completing debt refinancing and is also undertaking a
Hilco has had exposure to other distressed retailers in the past 12 months.
It tried to buy Woolworths and advised Deloitte during the failed retailer’s
closing down sale. Hilco was also represented on MFI’s board.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies