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 to audit over 850 Carillion sites
Find out moreThe liquidators of Carillion, the construction giant that collapsed with a debt pile of around £1.5bn, have instructed CAPA to audit 854 properties across the business.
Carillion entered compulsory liquidation in January 2018, after a period in which its revenue fell by over £2.4bn in less than two years.
When the company needed a substantial cash injection at the start of 2018, the board was unable to raise new capital from its banks – which had already given Carillion more time to repay its loans. Its financial predicament left the business with no option but liquidation.
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CAPA called in after pre-pack saves 50 jobs
Find out moreThe administrators of a motor repair chain, who rescued the business via a pre-pack deal, have instructed CAPA to conduct a property audit across the firm’s national sites.
Concorde Tyre & Exhaust Centres, whose head office was in Northampton, had been providing motor vehicle parts and repair services since 2011. Its turnover had risen from £211,000 to over £5.5m in less than five years and customer numbers had reached 160,000.
But after the company expanded, it encountered severe cashflow difficulties, along with rising costs due to leased equipment and rent reviews.
Following mounting pressure from creditors, Steven Parker and Trevor Binyon of Opus Restructuring were called upon to help secure the company’s future.
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CAPA called in after electrical supplier pulls plug
Find out moreThe liquidator of Mains Home Electrical Centres, a retailer of electrical white goods for more than 30 years, has called in CAPA to conduct a full property audit.
Based in Bishop’s Stortford, Hertfordshire, Mains Home Electrical Centres first opened in February 1988 and had become a successful retailer in its local area.
However, in recent years the business had suffered pressures related to changing consumer habits, the move to online shopping and poor trading during the Christmas period of 2017. Earlier in 2018, adverse weather brought on by the ‘beast from the east’ also impacted sales.
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CAPA instructed on latest casualty of high street woes
Find out moreThe administrators of a store sign designer have instructed CAPA to conduct a full property audit on the business, after the problems engulfing UK retailers claimed another casualty.
SP Group, an employer of more than 350 staff that creates store front displays and shop signs, was placed into administration in July 2018, four months after it had been purchased by its current owner – the investment company SelmerBridge. SelmerBridge is an investment vehicle set up by French former investment banker Landry Kouakou.
Based in Redditch, SP Group had suffered from a significant decline in turnover following the loss of key customer contracts in the autumn of 2018, along with a further decline in customer support since the business was acquired in March 2018.
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CAPA to audit 200 sites at Bargain Booze after rescue deal
Find out moreCAPA has been appointed to carry out a full property audit at Bargain Booze Ltd, a chain of over 450 off-licences where thousands of jobs have been saved in a rescue deal.
Along with the wine and spirits retailer Wine Rack, Bargain Booze was part of a collective retail business owned by a parent company, Conviviality Plc, which entered insolvency on April 5 2018.
Matthew Callaghan, Ian Green and David Baxendale of PwC, were appointed as administrators of Conviviality on April 5 2018, and a day later, as administrators of Bargain Booze.
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New TRI news website
Find out moreCAPA are delighted to be a launch partner of the new TRI news website formerly I&R news.
Check out their new website here >> https://bit.ly/2PhTSlo
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Gordon Bros children’s hospital charity golf day 2018
Find out moreCapa were delighted to be Gold Sponsor of The 25th Annual Philip and Bernice Frieze Charity Golf Tournament which took place on Monday, July 16, 2018 at the Pinehills Golf Club in Plymouth, MA. The tournament benefits The Philip and Bernice Frieze Fund at Boston Children’s Hospital.
Since it began in 1994, the tournament has raised over $3.6 million. The event was founded by and is organized by employees of Gordon Brothers in the name of the company’s former CEO, Philip Frieze, who passed away in 1993.
Find out more here > https://bit.ly/2A0gAei
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Tri Awards 2018
Find out moreCAPA are delighted to be headline sponsor of the Tri Awards again this year, you can find out more about the Tri Awards HERE
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CAPA to recover cash for creditors of latest high street casualty
Find out moreCAPA has been appointed to undertake a rates audit across nearly 60 sites at Bags Etc Ltd – the latest high street retail chain to collapse into insolvency.
A national luggage and handbag retailer that had grown since its 2003 inception into a £20m turnover business, Bags Etc traded from 58 shops around the UK and Ireland. The company also employed about 350 staff across its stores and warehouse operations.
Headquartered in Harlow, Bags Etc had experienced severe financial difficulties in recent years due to similar problems that are now having an impact on many other retail chains.
The retailer had a number of stores that were loss-making as consumers moved to stronger, premium and central shopping centres. This left the Bags Etc stores located in more suburban shopping centres struggling to turn a profit. Wider issues in the retail market had also affected Bags Etc, as consumers shifted towards online platforms instead of visiting stores.
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CAPA to attend R3 Annual Conference
Find out moreCapa are delighted to be attending the R3 Annual Conference taking place in Vilamoura, Portugal at the Anantara Hotel on 23-25 May 2018.
We look forward to seeing you there!
