Please visit http://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Friday, 18 May 2012

W Yeomans sold in pre pack administration

W Yeomans (Chesterfield) Ltd, the independent outdoor clothing and equipment retailers with 84 stores and 435 employees has been sold in a pre-pack deal.  The business started as a shop in Chesterfield but expanded around the country and had outdoor stores in garden centres.

The company's assets and employees were transferred to Yeomans Outdoor Ltd.
The deal was brokered with Gareth Rusling and Chris White of The P&A Partnership  who were appointed administrators of the retail chain on 16 May 2012.

"In these challenging times for the retail sector we are pleased to have been able to save such an established brand and to safeguard jobs," White said.

A pre pack administration will most likely have been undertaken as there was a waiting buyer and there was an immediate threat to the likely ability of the business to trade.

Pre packs are an effective way of rescuing a company but have attracted controversy as unsecured creditors usually lose out and can feel they have been "stitched up".  Read our article on Pre packs and CVAs on accountingweb.co.uk

3 comments :

  1. Hardly a safe guard, they've done it get out of paying various business' and landlords what they are owed. Closing half of their shops and have gotten rid of most of the customer service department at head office including me, the Customer Service manager.

    The company is still owned by the same people as before, it's just a big scam to get out of paying money and cutting costs.

    I would advise against purchasing from Yeomans' website as the last thing you'll receive after this week is good customer service.

    ReplyDelete
  2. whats difference between w yeomans [chesterfield] ltd and yeomans outdoor no one at head office will tell me

    ReplyDelete
  3. Yeah they have come unstuck anyway! It was great when Mr Yeomans owned it, But then it was sold and the new owners expanded too quickly in a quick money making attempt. I said it wouldnt last beyond 2014 and i think i may be right. When it was sold they appointed these right muppets as company directors who thought they were the big time, but they were just cocky t**ts! Im glad i left how i did and when i did! I'm now a senior manager, id like to see where JU, RM, TW etc are now. How karma plays its part! I just feel sorry for all the store level staff that have been screwed by stupid businessman's infatuation with greed!

    ReplyDelete

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.

Web Analytics