BusinessCompany NewsKPMG hired as administrator for Dolcis

KPMG hired as administrator for Dolcis

Shoe chain caves into credit squeeze

KPMG has to find a buyer for the first high street casualty of the credit
squeeze, as shoe chain Dolcis fell into administration today, with 1,200 jobs on
the line.

The chain, with 185 stores issued several profit warnings since Christmas and
is also understood to have defaulted on its rent bill in the last month.

The group, bought by private equity group Epic Structured Finance fo £2,7m
last year, gave notice four weeks ago of the possibilities of appointing
administrators.

KPMG restructuring partner Brian Green said today he was ‘hopeful’ a buyer
would be found, the Times reported.

‘There are, however a significant number of positive factors about this
business to make it an attractive acquisition,’ he said.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor