The administrators of a Yorkshire-based linen retailer have instructed CAPA to audit all stores the business occupied, to fuel recoveries for creditors.
CAPA will be undertaking full property audits at all stores occupied by The Towel Rail Ltd, which traded from 19 stores around the north of England as The Yorkshire Linen Company. At its peak, the chain traded from 43 stores nationwide, selling towels, bedding and curtains.
But like other retailers, the firm had recently suffered under the challenging and unpredictable trading conditions now affecting retail chains around the country.
After a company voluntary arrangement (CVA) process ended earlier this year, Francis Newton and Sarah Rayment, from the Leeds office of business advisory firm BDO, were then appointed administrators on June 13.
The administrators have now instructed CAPA to conduct the full property audits, meaning CAPA’s Audit team will use bespoke software to undertake a forensic analysis of data on all property costs through every site The Yorkshire Linen Company traded from.
The team will interrogate information on utility bills, property service management costs, rates and all other related outgoings. On a no-win no-fee basis, CAPA will look to identify any anomalies, errors or overspend, before recovering overpaid sums for the creditors.
