Butchers Dewhurst has entered into administration, with the closure of 60 of
its 95 stores. Administrators BDO Stoy Hayward said the stores had to be closed
to enable the rest of the group to be sold.
A combination of worsening high street trading and significant investment in
11 of its stores had led the company to the brink of collapse.
Dewhurst shareholder Lloyd Maunder Holdings stated: ‘We can no longer justify
the much heavier investment being demanded by Dewhurst’s bankers to support this
operation. We ourselves are the principal creditor involved.’
Dewhurst employs 600 staff and has its head offices at Tunbridge Wells, Kent.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies