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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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.
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Deloitte appoints CAPA on food supplier
Find out moreThe administrators of a food supplier whose orders were wiped out by the pandemic have appointed CAPA to audit properties the business traded from.
CAPA will be conducting property audits at various sites that Adelie Foods occupied, after taking an instruction from administrators at Deloitte.
Adelie had been an employer of more than 2,000 staff, trading from more than 10 premises around the country. The business had previously been suffering due to pricing pressures in a competitive market, and its ability to cover its cost base. These issues were exacerbated when its order book from clients was heavily impacted by the enforced closure of restaurants.
In the end, Rob Harding, who has taken on major retail insolvencies including Oasis and Warehouse this year, and Richard Dawes of Deloitte, were appointed administrators on May 26 2020. The administrators have since been looking for a buyer of the business.
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PwC instructs CAPA on 180 Laura Ashley stores
Find out moreThe administrators of fashion chain Laura Ashley have appointed CAPA to audit 180 stores the business occupied, after the lockdown claimed another high street casualty.
PwC instructed CAPA to conduct a full property and accounts payable audit across the entire business, after being appointed as administrators soon after the national lockdown took effect.
Another lifestyle brand affected by the pandemic, Laura Ashley specialises in furniture retailing, home accessories, decorating and fashion products. The group had retail stores based in the UK, Republic of Ireland and France, as well as franchise and licensee operations in 25 territories across the world.
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CAPA instructed on 70 Cath Kidston outlets
Find out moreThe administrators of women’s fashion chain Cath Kidston have appointed CAPA to audit 70 sites across the business, after the retailer entered a pre-pack administration.
CAPA will be conducting a full accounts payable and property audit of sites Cath Kidston traded from around the UK, after the business was kept alive as an online-only retailer after the administration.
With around 950 staff, and more than 200 stores in 16 countries, Cath Kidston had been a long-established retailer of women’s fashion, home furnishings and beauty products.
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CAPA appointed over 90 Oasis/Warehouse stores
Find out moreThe administrators of the Oasis and Warehouse fashion chains have appointed CAPA to audit stores the businesses traded from around the UK, as another high street retailer fell victim to the effects of Covid-19.
CAPA, which will be conducting full property and accounts payable audits at 92 sites that the two chains occupied, was instructed by administrators at Deloitte.
As staples of high streets and shopping malls across the country, Oasis and Warehouse had employed around 1,800 staff, but similar challenges that all fashion retailers face had affected the group in the past year.
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CAPA appointed on fashion chain, after KPMG saves 800 jobs
Find out moreThe administrators who rescued a high street fashion chain from insolvency have appointed CAPA to audit more than 80 of the company’s stores.
KPMG instructed CAPA after completing a sale of Kast Retail Ltd (KRL) – a subsidiary of AIM-listed fashion retailer Quiz – in a move that safeguarded more than 800 jobs.
Headquartered in Glasgow, KRL operated 82 Quiz Clothing leasehold retail stores across the UK and Ireland.
Like other high street fashion retailers, KRL had experienced trading difficulties including falling footfall, declining average customer spend and rising operating costs. Earlier this year the group closed all KRL stores, with the majority of staff placed on furlough.