Mazars take on The Pier administration

Mazars has
become the administrator of
The Pier, the High Street
store specialising in ethnic furniture and home décor.

The Pier went into administration yesterday and Hilco, the distressed asset
specialist whose plans to buy Woolworths failed to win approval from lenders,
has been appointed to operate its 31 stores and 17 concessions, according to the
Financial Times.

The Pier’s website said this morning that: ‘The affairs, business and
property of the company are being managed by the Joint Administrators, Roderick
Weston and Nigel Heath Sinclair, both of Mazars LLP, who act as agents of the
Company only and without personal liability.

‘The Administration of the Company does not affect any consumer’s statutory

Rod Weston said: ‘The Company has encountered difficulties due to the harsh
trading conditions associated with the current economic climate. While in
administration the business will continue to trade as normal. We are now
reviewing options and are seeking a buyer for the business as a going concern.”’

The Pier has been placed into administration by its Icelandic owner Lagerinn
which placed the UK division of its Ilva furniture chain in administration
earlier this year.

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