The administrators of a luxury chocolate brand with high-end sites across central London have appointed CAPA to audit the retailer’s stores.
BDO has appointed CAPA to audit the head office and five confectioneries run by Rococo, which has been selling luxury chocolate goods on affluent London high streets since 1983.
Like many other retail brands, Rococo has been suffering difficult trading conditions which had impacted its working capital position.
The directors decided an administration was required to provide a stable financial platform to rescue the company. Kerry Bailey and Danny Dartnaill, of the business restructuring division of BDO, were appointed administrators of Rococo on May 23. They are now looking for a buyer of the business.
They have now instructed CAPA to conduct a property audit on all six sites occupied by Rococo, including its flagship store on the King’s Road in Chelsea.
CAPA will be working on its other retail stores in Notting Hill, Marylebone, Covent Garden and Belgravia, along with the head office in West Dulwich.
The instruction means CAPA’s Audit team will use bespoke software to conduct a forensic analysis of all outgoings across the sites, including property management costs, utility bills, rates and other costs.
CAPA will seek to identify any errors, anomalies and overspend, then recover any overpaid sums for the administrators, in turn contributing to the rescue plan for Rococo.
