Jacques Vert owner 'prepares to call administrators'

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.


Share this article



Latest Businesses for Sale

E-commerce Reseller of Rare Books
Gloucestershire, South West, UK

In principle, the business deals with rare books sales, which are generally Non-fiction, First Edition and in Good Condition, worldwide via the internet. Offers invited.

Asking Price: Offers Invited
Turnover: £310,000

LEASEHOLD


Discount Grocery Retailer
North of England, UK Wide

Specialises in the retail of a range of quality clearance groceries, confectionery, soft drinks, pet food, alcohol, toiletries and household products to the general public.Specialises in residual stock, in addition to the disposal of items with minim...

Asking Price: Offers Invited
Turnover: £5,100,000

FREEHOLD


Bathroom, Kitchen Design, Building & Installation
Surrey, South East, UK

Well respected and renowned business, established in the area in 2000 and now offered for sale due to our clients wish to now semi-retire. The business is run and managed by our client with 3 other members of the main team as well 2-3 teams of constr...

Asking Price: £999,950
Turnover: £1,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Mar
 

Addison Lee acquired by consortium of investors | BUSINESS SALE

Addison Lee Group, London’s biggest private care hire ...

 
26
 
Mar
 

Leicestershire building products firm enters administration | ADMINISTRATION

Leicestershire-based System Building Products Limited has en...

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
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...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources