Virgin Cosmetics
 The Company ran 14 shops employing 140 staff located all over the UK, mainly in retail parks. The Company was facing difficulties due to the downturn in trade and in 2009 the company was losing over £100,000 per month. We were appointed as Administrators to run the Company, by the High Court of Justice.
Prior to our appointment we met with both the key directors and the senior management team in order to prepare a plan with key action points which would enable the company to stem the losses and allow for the majority of stores to remain open in order to take advantage of the trading period to Christmas.
We proceeded to close two shops and trade the remaining shops after renegotiating with the landlords and suppliers to ensure that the Company returned to profitability within three months. This assignment generated a lot of media interest nationwide.
|
