News
Here you can find CAPA’s latest appointments to undertake forensic audits, as well as instructions for property services from a range of blue-chip clients including retailers, insolvency practitioners, leisure operators, banks and venture capitalists.
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CAPA appointed on Burger King franchise operator
Find out moreThe administrators who rescued the operator of Burger King outlets around the country have appointed CAPA to conduct rates audits on the sites it traded from.
Moore Kingston Smith, the business advisory firm, called in CAPA after saving the catering firm Powerbanks in 2020 by selling it out of administration to Karali Leisure, another restaurant franchise operator.
Powerbanks had been enduring financial problems before the pandemic, due to costs related to an acquisition and changes in the behaviour of consumers - who began to choose healthier eating options.
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CAPA instructed on timeshare giant, as travel sector faces prolonged problems
Find out moreCAPA has been instructed to conduct audits on sites occupied by one of the UK’s largest timeshare operators, after prolonged lockdowns and travel restrictions hit the firm’s finances.
As administrators of Club La Costa UK, BDO has appointed CAPA to undertake rates audits, as the business restructuring firm tries to maximise recoveries for the creditors.
Club La Costa sold timeshares and managed timeshare resorts in Spain, the UK, Austria, Turkey and the USA.
Before the pandemic had enforced the closure of resorts and the cessation of sales activity on timeshares, Club La Costa had already encountered financial problems relating to a case in the Spanish courts relating to timeshares and how they were sold. This led to a legal dispute with customers and claims that were led on behalf of consumers by claims management firms.
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CAPA showcases expertise on sustainable rents during administrations
Find out moreCAPA has showcased how it can resolve tensions between commercial property landlords and tenants, and adjust rents to sustainable levels, at the Turnaround, Restructuring & Insolvency (TRI) conference.
Held as a live, interactive digital broadcast for the corporate restructuring and insolvency profession, the TRI Conference featured case studies on how distressed businesses have been saved this year.
At the event CAPA founder and director Mike Sheath explained his team’s role in aiding the business rescue process, by negotiating with landlords and tenants, and restructuring leases to ensure rents are manageable for tenants.
In a year where vast numbers of retailers – from the smallest to the largest in the UK – have found themselves struggling or unable to maintain lease payments, Mike explained how CAPA can bring landlords and tenants to the negotiating table.
In one of the two Q&As with TRI Conference chair Tony Groom, on Sustainable rents during administrations, Mike explained there are various reasons why CAPA is engaged either prior to, or after, an insolvency or restructuring process. He talked through CAPA’s role in leading a debate with landlords in instances where the insolvent company’s occupation of sites is uneconomic, during an administration.
CAPA is also often engaged by firms that acquire businesses after a successful sale and rescue. Mike explained his team’s role in adjusting rents to sustainable levels in these cases.
In another Q&A on aiding the relationships between commercial landlords and tenants during lockdowns, Mike explained CAPA’s role in aiding those debates and bridging the gaps, particularly when landlords have not been able to take action during lockdowns, in the event of non-payment of rent.
Mike talked about helping to achieve traction with dialogue, along with visibility for landlords of the tenant’s performance and circumstances.
TRI Awards The TRI Conference was held on the same day as the TRI Awards, which was also held as a digital presentation. As headline partner of the awards, CAPA presented categories and delivered a welcome speech, to once again champion best practice in the business rescue profession.
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TRI Awards 2020
Find out moreCongratulations to all the winners at last nights #TRIawards 2020 which was sponsored by CAPA.
View the winners here https://bit.ly/3oCKJF4
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CAPA to share insight on sustainable rents at TRI event
Find out moreCAPA will be sharing its views on managing sustainable rents during administrations, at the Turnaround, Restructuring and Insolvency (TRI) Conference on Wednesday December 9.
As a major sponsor of the conference, and the TRI Awards on the same day, CAPA will be featuring on the agenda with industry experts from the UK’s largest restructuring and insolvency firms.
CAPA founder and director Mike Sheath will be interviewed on issues that have been central to various administrations and the business rescue process this year. With decades of experience of negotiating with landlords - particularly in the retail sector - and securing sustainable leases for businesses, Mike will deliver insight on how rents can be managed and restructured during an administration process, as well as during lockdown.
Two interviews with Mike at the conference – which is a live, interactive, digital broadcast this year –come just over a week after both Debenhams and the Arcadia group entered insolvency, and a longer period in which retailers and dining chains have struggled to survive amid reduced footfall and expensive leases.
The TRI Conference will also feature a panel session on whether transparency will be delivered through new pre-pack rules, along with a case study from FRP Advisory, on how they managed to rescue Carluccio’s during the pandemic.
CAPA is also sponsoring the TRI Awards, which follows the conference on December 9. The awards will also be a live, interactive broadcast, hosted at Credit Strategy’s London TV studio.
CAPA will be presenting some of the key categories on the night – International Firm of the Year, Corporate Restructuring Firm of the Year – 4-10 licensed IPs, Insolvency Team of the Year and Property Valuation Provider of the Year.
More information on the TRI Awards and the TRI Conference can be found on the respective websites.
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Deloitte appoints CAPA after saving 2,600 jobs at historic family business
Find out moreThe administrators who rescued one of Britain’s largest privately-owned retailers - which has been trading for more than 50 years - have instructed CAPA to audit 300 sites the business occupied.
Administrators at Deloitte have appointed CAPA to undertake full property and accounts payable audits of M&Co, a family fashion business that has been trading since the 1960s and was recently saved from collapse.
With headquarters in Renfrewshire, Scotland, M&Co had traded from more than 260 stores at its peak under its previous name, Mackays.
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Quantuma appoints CAPA on coffee chains
Find out moreThe administrators of various coffee chains now in liquidation have appointed CAPA to help recover funds for the creditors of each business.
Quantuma, the business recovery firm that merged with K3 Capital Group in August this year, has appointed CAPA to conduct a property audit on CCL 002 – which traded as the Department of Coffee and Social Affairs and previously, Coffeesmiths Collective.
CCL 002 had been on a growth by acquisition spree in recent years, having purchased Baker & Spice sites from Patisserie Holdings, as well as other trading names and assets, including from the London-based Taylor Street Baristas.
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CAPA appointed on gym group after BDO rescue
Find out moreThe administrators who rescued Dave Whelan Sports (DW Sports), the gym and sports retail group, have appointed CAPA to audit more than 70 fitness centres across the business.
CAPA will be conducting a full property and accounts payable audit on sites where the gyms were located, after business recovery specialists at BDO managed to sell the business out of administration to Frasers Group – the company owned by sportswear tycoon Mike Ashley.
Founded by former Wigan Athletic owner Dave Whelan, DW Sports had operated 73 gym and 50 retail sites in the UK, though 25 of the stores closed prior to its administration.
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CAPA appointed on US fashion chain’s prime London stores
Find out moreThe liquidators of the UK arm of US fashion retailer J Crew have appointed CAPA to audit stores the business traded from.
Corporate restructuring firm FRP Advisory has appointed CAPA to conduct property audits of outlets J Crew occupied, which are all prime locations across London.
The appointment follows a decision by the US parent company to exit from the UK market. The American company had recently emerged from Chapter 11, the US form of bankruptcy, after securing an agreement to restructure its debts. The group has now decided to serve its UK customers through its online store only.
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CAPA appointed on Carluccio’s after rescue deal saves 800 jobs
Find out moreThe administrators of Carluccio’s have appointed CAPA to audit invoices across the café and deli chain’s accounts, after the café and deli chain was saved in a rescue deal.
Administrators at FRP Advisory appointed CAPA after completing the sale of Carluccio’s to Boparan Restaurant Group (BRG) in a transaction that transferred and therefore safeguarded more than 800 jobs.
Following a marketing process, the Carluccio’s brand and 30 sites in the UK were acquired by BRG which houses well-known brands including Giraffe and Ed’s Easy Diner.
The lockdown had put intense pressure on Carluccio’s network of more than 70 outlets around the country. The business had already been suffering financial problems before the pandemic, and in the end Geoff Rowley and Phil Reynolds, both partners at FRP, were appointed joint administrators on March 30 2020.