PracticeConsultingPwC appointed as administrators to Midlands sports retailer

PwC appointed as administrators to Midlands sports retailer

Michael Gercke and Rob Birchall of PricewaterhouseCoopers have been appointed as administrative receivers to Terry Warner Sports Limited, the sports footwear, clothing and equipment retailer.

The business has a leasehold head office and warehouse in Gloucester, and trades from 28 leasehold stores in the South Midlands, Gloucester, Avon and Berkshire. The company’s forecast turnover for the year to 31 January was £13.4m.

Of the 28 stores the receivers have immediately taken steps to close a small number of the less profitable stores. The remaining 22 stores are to continue trading whilst a buyer is sought for the business.

Gercke said: ‘The receivers already have interest from a number of potential purchasers and are hopeful that an early sale can be achieved.’

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