Soft furnishings business saved from administration following Partner’s guidance

A decline in turnover is difficult for any business – even more so when combined with increased taxes impacting cashflow. When this was the case for Evesham-based soft-furnishings retailer Julian Charles, they got in touch with HCR Law’s Restructuring and Insolvency Partner Hayley Phelps.

Hayley and the team were instructed to appoint joint administrators, preparing the appointment papers and acting for the administrators themselves to undertake a pre-pack sale of the business and assets to another furnishings company.

The case involved cross-firm support from the Real Estate team in order to review the numerous leases and put licences to occupy the premises in place.

Hayley’s expertise in the restructuring and insolvency sector, along with the support of the Real Estate team, meant Julian Charles’ sale was successful – securing 231 jobs and ongoing trade at over 25 sites.

Following the case, Hayley said: “I’m delighted that we were able to move quickly and facilitate a successful sale of Julian Charles – the current economic climate means it’s difficult for businesses across the country, so being able to secure the future of this business and the jobs of so many people is fantastic. I wish them all the best for the future.”