The 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.
FRP has since appointed CAPA to conduct the audits, meaning CAPA’s audit team will undertake forensic analysis of the UK firm’s property costs across prime locations including Regent Street, Chelsea, Sloane Square and Bloomsbury.
The auditors will use bespoke software to interrogate data on the costs to determine any overspend or error, before recovering any overpaid sums for the creditors.