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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New American Golf owner retains CAPA on over 100 sites
Find out moreCAPA has been retained by the new owners of American Golf, the specialist sports retailer, following its acquisition from administrators at Deloitte in October.
The Endless-funded business now occupies 111 trading sites under licence and is looking to CAPA to secure new lease terms by negotiation with landlords. The estate comprises a mixture of on-course stores, retail park locations and stand-alone A-road sites.
The purchase of the business by the private equity investor safeguarded more than 900 jobs at the retailer.
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Wilko appoints CAPA on 400-site estate
Find out moreSpecialist tenant adviser CAPA has been engaged by UK hardware retailer Wilko as part of its strategy to right-size its store portfolio.
Through a series of lease restructuring, store relocations and part disposals, CAPA will seek to trim 3m sq ft of excessive or unused space across the 400-site estate over a three-year period. In turn this will enable Wilko to prioritise stores for re-fits and general modernisation.
In addition, CAPA is negotiating rent reviews against landlords on more than 100 of the leases.
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Alvarez & Marsal instructs CAPA on world-renowned classic car specialist
Find out moreAlvarez & Marsal Europe, the business advisory group, has appointed CAPA to conduct a rates audit at a classic car restoration firm saved from the brink of collapse.
Based at a head office in Maldon, Essex, JD Classics has an illustrious history in restoring classic cars, as well as running its own racing team, which has competed successfully at international races including the Goodwood Revival, the Le Mans Classic, the Spa 6 hrs and the Silverstone Classic.
Hundreds of classic cars worth a fortune, such as the 1958 Jaguar XK150 Drophead Coupe, and the 1956 Porsche Speedster, are brought to JD Classics from around the world for restoration
After the company experienced financial difficulties earlier this year, Mark Firmin, Richard Beard and Richard Fleming of Alvarez & Marsal were appointed joint administrators of the business on September 20 2018.
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CAPA’s property team welcomes new director
Find out moreCAPA has announced the appointment of retail surveyor James Ratcliffe, who began in his new role on October 8.
Formerly head of retail at the Leeds office of property advisory business GVA, James is joining as a director, taking responsibility for asset management of the 300-store estate of fashion retailer Bonmarchè.
He joins the property team led by CAPA’s co-founder and director Mike Sheath, who pioneered a major lease restructuring programme across Bonmarchè’s store portfolio, to ensure its property chain was sustainable.
Mike said: “James brings a wealth of knowledge and experience with him, which will help develop CAPA’s growing portfolio of retailer clients across the UK.”
James’s role will include leasehold acquisitions of retail and leisure property, freehold acquisitions of retail, leisure, development and investment property, leasehold disposals, freehold disposals, rent reviews and lease renewals.
James can be contacted at james@capa.uk.com
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CAPA instructed on 30 year surf brand
Find out moreRetail occupier advisor Capa has been instructed on 30 year old surf brand Saltrock. This follows the acquisition of the Devon based company by new owners Broadgate 1972 from Administrators at KPMG on 17th August 2018. Saltrock is now a sister company of the established premium UK lifestyle Brand Crew Clothing.
Currently 25 of the stores are earmarked as having turnaround potential, with 2 of them potentially transferring to operate under the Crew fascia. Capa are liaising with L/L’s and advising Saltrock on optimum lease terms going forward in respect of the stores, locations of which include Croyde, Bude, Newquay, Looe & Woolacombe. Capa Director Mike Sheath commented “being an iconic name in this sector it had obvious appeal to the owners of Crew. So far respective parties are agreeing commercial lease terms and this bodes well for Saltrock’s future despite a very challenging current retail climate.
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TRI awards menu tasting day
Find out moreCAPA were delighted to attend the TRI Awards menu tasting day yesterday at the Hilton, London. The food was delicious!
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Tri Awards 2018 shortlist announced
Find out moreCongratulations to all the nominees who have made the Tri awards shortlist!
We look forward to seeing you all in November!
https://www.creditstrategy.co.uk/triawards-info/triawards-info/shortlist
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Administrators of care home operator appoint CAPA
Find out moreThe administrators of a care home operator in Scotland have instructed CAPA to audit properties across the firm, as a buyer is sought for the business.
Tom MacLennan, Iain Fraser and Chris Stevens, partners at the business advisory firm FRP Advisory, were appointed joint administrators of Bertinaley Care Ltd on September 11 2018.
The company operates four care homes in Hamilton, Largs, Dundee and Surrey, providing residential care, nursing care and respite care for up to 68 residents. The business had been suffering under a number of operational challenges and a decline in resident numbers, which resulted in severe cash flow problems which couldn’t be resolved.
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CAPA appointed on property firm as pre-pack saves 100 jobs
Find out moreThe administrators of a Bolton-based estate agents, who saved over 100 jobs at the firm via a pre-pack rescue deal, have instructed CAPA to conduct a property audit across the business.
Julien Irving and Andrew Poxon of Leonard Curtis Business Rescue & Recovery were appointed joint administrators of Miller Metcalfe in August 2018.
Miller Metcalfe operates predominantly as a real estate agents from various locations across north Manchester, Cheshire and Lancashire, but also provides property survey and management services.
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CAPA instructed after jobs saved at manufacturer
Find out moreCAPA is now auditing properties at a Hull-based plastics manufacturer, after a pre-pack administration saved over 30 jobs across the business.
Liv Supplies, which provided plastics to the building trade and positioned itself as a one-stop shop for plastic materials, experienced severe financial difficulties in the first half of 2017.
After the business was hit by historic liabilities and left with an insolvent balance sheet, Robert Adamson and Patrick Lannagan, from the business restructuring services division of Mazars, were appointed joint administrators in August of that year.
Upon their appointment, the administrators immediately secured the sale of the business to a new company, Liv Supplies Yorkshire, in a pre-pack deal that saved 33 jobs and enabled the business to continue trading.