BusinessBusiness RecoveryClothing maker CDU calls in MCR administrators

Clothing maker CDU calls in MCR administrators

John Whitfield and Philip Duffy appointed administrators to AIM-listed CDU

ADMINISTRATORS FROM MCR have been called to AIM-listed clothing maker CDU.

John Whitfield (pictured) and Philip Duffy, partners at MCR, were appointed joint administrators on 23 March.

The 60 year-old business recently changed its name from Slimma and has bases in London and Staffordshire, employing 44 people.

Whitfield, said: “Like many in the retail sector, CDU has experienced a difficult trading environment during the course of the past 2 years. This has been exacerbated by a further downturn in consumer spending.

“The company is trading as normal at present while all options are considered. There is already interest in the business and brands and we hope to be able to secure a going concern sale of the business and its assets in due course.”

CDU suspended trading on 9 March. A statement from the company said the move was until such time that it could provide annual reports and accounts to shareholders. Its nominated adviser stepped down yesterday.

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