The liquidators of a nationwide retailer of e-cigarettes have instructed CAPA to undertake audits on the business, as it looks for opportunities to maximise returns to creditors.
ReSolve Business Advisory, the independent corporate restructuring and investment house, has appointed CAPA to conduct rates audits on 45 stores occupied by Slam Trading, which is now in liquidation.
Slam Trading had suffered prolonged financial problems due to the lockdown restrictions during the pandemic. The owners had tried to rebrand all stores in 2020 and opened a batch of outlets when restrictions were lifted, but after these continued to see poor sales the directors decided it was unviable for the wider business to continue trading.
Cameron Gunn and Simon Jagger, of ReSolve Business Advisory, were called in to find options for the business and were ultimately appointed as administrators in September 2020.
After working on realising assets from the business to deliver returns to creditors, the administrators were subsequently appointed as liquidators in September 2022.
They have since appointed CAPA to conduct the rates audit, which will see CAPA’s Audit team conduct a forensic investigation of business rates paid out at 45 sites used by Slam Trading, using bespoke software to identify instances of overpayments in the data. Any overspend will be recovered on a no-win, no-fee basis.