Deloitte appointed as administrator to Paul Simon (London) Limited - Business Credit News UK
Member's Login
Email:

Password:


Save password
Forgot your password?
 Why Register?
 Register Now

Latest News Highlights
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 24 October 2014
Appointment of Administrators Notices - 23 October 2014
 
New Links
Wolf Enforcement Services ltd
AddCash
 




Oct 26 2014
Add this page to your favourites Need help navigating this site? View a map of this sites contents
 
Home > News > Article
 
Deloitte appointed as administrator to Paul Simon (London) Limited
 

Apr 3 2014
Lee Manning and Nick Edwards of Deloitte, have been appointed as administrators yesterday to Paul Simon (London) Limited (“Paul Simon”), a homeware retailer specialising in furniture, curtains and carpets. The administrators will continue to trade Paul Simon while seeking a buyer for all or parts of the business as a going concern.

Paul Simon headquartered in Barking, operates from 51 leasehold retail stores, largely in the South and South East, and an online platform, employing approximately 550 staff. These sites are primarily situated in out of town retail parks.

Commenting on the announcement, Lee Manning, Deloitte partner, said: “We are working closely with key stakeholders, customers and employees to ensure the business has the best possible platform to secure a sale, preserve jobs and generate as much value as possible for all creditors.

“Like many other retailers, Paul Simon has been hit hard by the uncertain economic environment. In addition, its core business has been undermined by the increasing importance of online sales causing an erosion of margins. This was compounded by the impact of the recent widespread flooding which restricted many customers’ access to several stores. These issues made an element of the store portfolio unprofitable and led to a projected imminent cashflow deficiency resulting in the Administration appointment.”

Any customers with queries about deliveries should visit the company website, which will be regularly updated, at: www.paulsimon.co.uk or Deloitte on www.deloitte.com/uk/paulsimon.


Print this article     
 
Channels
Post News
News Archive
News Search
Letter To Editor
 
News Headlines
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 24 October 2014
Appointment of Administrators Notices - 23 October 2014
Appointment of Administrators Notices - 24 October 2014
Winding Up Petitions (Companies) Notices - 24 October 2014
Meeting of Creditors Liquidation Notices - Section 98 of the Insolvency Act 1986 - 23 October 2014
Equifax urges industry-wide collaboration to meet FCA and CMA expectations for real-time data sharing
Business groups call on government to scrap legal reforms that will cost businesses and taxpayers £160m per year
Insolvencies cost taxpayer up to £4.4bn in latest tax gap estimate
Small Business Bill threatens creditor engagement in insolvencies
ACCA and IMA Global Survey finds “robust recovery” for small and medium-sized enterprises
Follow Us On
Follow us on Twitter Check out our blog posts Go to our LinkedIn profile Subscribe to our RSS feed

Shopping Cart
Items: 0 Total: 0.00
View items in your shopping cart Checkout
 



Upcoming Events
How software tools can assist credit managers
Understanding International Credit Reports
Fundamentals of Credit Control
Finance Professional Show 2014
Complete Credit Controller
Search for more events…

Top Products
Experian Silver Non-limited Business Report
Tile Advert on Front Login Page and one Content Page

Special Offers
In Focus UK Credit Reports
 
 

Homepage | Feedback | About Us | FAQs | Sitemap | Terms & Conditions | Privacy Statement | Help Page | Advertising