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Monday, 27 June 2011

Jane Norman in administration?

Again I find myself blogging on another retailer likely to go into administration! Jane Norman. It doesn't have to be this way.  I know that sales have fallen on the high street in May and June but early action can avoid a more expensive administration process.  A CVA has much the same powers as administration for unsecured creditors.  However a secured creditor such as bank has the power to appoint administrators.  So of course we cannot comment on individual cases.

According to Accountancy Age  Jane Norman is likely to be sold in a pre pack administration with Zolfo Cooper lined up as administrators. 

Jane Norman employs 1600 people and it closed its 90 UK stores over the weekend.

We have already taken  calls from worried suppliers this morning.  If you are a supplier please look at our pages for suppliers

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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