When a novelty gifts and gadgets retailer hit cash flow problems, the company was threatened with closure and the loss of 25 jobs at its five regional outlets, some of which were based in Manchester, Bury and Chester.
However, the business was able to continue to trade normally, thanks to the intervention of Clarke Bell.
We acted by placing the company into Administration, which allowed operations to continue while a new buyer was sought. Although certain franchise operations previously conducted through major department stores were discontinued, retail activities through the five shops remained unaffected, with a steady flow of customers choosing from the many mechanical and electronic games and toys on offer.
The company was a successful business with a £2 million turnover. It worked from several prime site locations and there was a strong demand for its products. This is why there were excellent prospects for an early sale, thereby preserving all 25 jobs.
We were able to examine the situation, and very quickly advised the directors about the right strategy for them to adopt.
As Administrators, Clarke Bell successfully traded the company for several weeks.
The financial director said about Clarke Bell:
“They immediately understood the problems and provided us with a specific solution appropriate to our needs. We would not have been able to take the business forward without their help.”