Fri, 04 May 2018 | ADMINISTRATION
Calvetron, owner of fashion brand Jacques Vert and other fashion brands, has announced that it is preparing to call in administrators Duff & Phelps.
The company owns a number of womenswear retailers in Britain, trading from department stores including Debenhams and House of Fraser. The firm purchased a number of its brands via a pre-pack administration in 2017, although seven stores in Belgium and 17 in the UK have since closed.
According to the group, it's likely trading from the department stores will be heavily affected by the decision, which could eventually result in the sale of part of Jacques Vert or investment in Calvetron.
Despite concerns that the problems will impact on these giant high street stores, recent announcements including House of Fraser's decision to seek approval for a Company Voluntary Agreement (CVA) are actually thought to have had the biggest impact on the Calvetron group's projected success. The could reportedly result in the closure of a large number of the department store's sites.
According to the department store's Chinese owner, House of Fraser is now going to attempt to find a buyer for a majority shareholding in the business, and is currently looking towards C.banner to invest. However, House of Fraser will be required to restructure its property portfolio if it is to secure a sale.
These issues are similar to those faced by other major high street retailers including Carpetright, New Look and Poundworld. Since the start of the year, all of these company's have either finalised or announced that they are pursuing CVAs, with many of them now seeking a buyer for all or some of their divisions.
The business sells a great selection of meats, cooked meats, a range of seasoned sausages and burgers all prepared in-house. Revenue is derived from the sale of quality fresh produce, supplied from reputable sources. The business sees a lot of repeat...
LEASEHOLD
The business offers a wide range of quality furniture made from materials such as solid oak, solid pine, Indian hardwood, reclaimed wood, veneers, foils and more. A wide variety of different products are displayed in a traditional and contemporary st...
LEASEHOLD
Fantastic opportunity to acquire, on a freehold basis, this long standing and well respected traditional local butchers. Thomson of Thornton has been family owned for over 50 years and has built an excellent local reputation for quality and service a...
FREEHOLD
|
15
|
|
Nov
|
Carpetright agrees to shareholder takeover deal | BUSINESS SALE
Carpetright has agreed a deal to be taken over by its larges...
|
14
|
|
Nov
|
Scale manufacturer taken over in MBO | MBO/MBI
Weighing scale manufacturer Marsden Weighing Group has been ...
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
12
|
|
Oct
|
Shopping centre in Northern Ireland for sale at £18m | BUSINESS SALE
Bow Street Mall in Lisburn, one of Northern Ireland's b...
|
27
|
|
Mar
|
Retail and hotel complex sells for £34m | COMMERCIAL PROPERTY
A retail and hotel complex on Edinburgh's Princes Stree...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources