Administrators of Grainger Games Ltd, the nationwide chain of video game stores, have instructed CAPA to undertake a rates audit of 69 properties at the company.
Newcastle-based Grainger, the UK’s leading independent specialist retailer of video game consoles, software, accessories and merchandise, entered administration on April 4 2018.
The company, which also trades in, sells and repairs smartphones, tablets and digital cameras, was a household name in the gaming world with nearly 70 stores across the country, but it had faced challenging trading conditions during the past year. Like other businesses across the UK games retail market, the company’s margins had come under pressure. A recent cut to its supplier credit limits had also caused significant operational challenges.
After the board was unable to sell the business as a going concern, Steven Ross and Allan Kelly, of the corporate advisory firm RSM Restructuring Advisory, were appointed administrators.
The administrators have now called in CAPA to conduct a rates audit across its entire portfolio of 68 stores, along with its head office in Newcastle.
The instruction means CAPA will now undertake a forensic audit of rates paid out across the properties. The team will use bespoke software to inspect the data and uncover errors or any anomalies, such as overspend, that enable them to recover cash for Grainger’s creditors.