E&Y appointed receivers at Fopp
E&Y appointed to handle struggling music stores
E&Y appointed to handle struggling music stores
Music and book store owner Fopp has entered into receivership, and its Music
Zone stores have gone into administration.
Tom Burton and Colin Dempster from Ernst & Young have been appointed
joint receivers and joint administrators of the stores.
Fopp acquired 68 Music Zone stores out of a previous administration, many of
which have now been closed.
There are now 50 Fopp stores and 31 Music Zone stores across the country.
‘The stores have been closed by management yesterday and shop staff sent
home. We are currently assessing the financial position of the companies; once
this has been completed we will have a better idea of the future of the
businesses,’ said Burton.
Further reading:
Enter our Green Accountancy Survey to win £50 of wine
The numbers you crunch tell a story. Your expertis...
17yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article