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Selected ERS Credentials

Appointed as agent to liquidate €49m stock at cost price through 210 stores and concessions, multiple wholesale accounts and 15 warehouses.

Steilmann

Part of the Steilmann Group, ERS was appointed to liquidate stock of €8m at cost price though a small network of branded stores and multiple wholesale accounts.  The brand was subsequently sold to another party.

Apanage

One of the premium brands of the Steilmann Group, operating mainly as Concessions with 6 standalone stores . The stock was liquidated by ERS whilst retaining the integrity of the Brand. The IP was subsequently sold by the Administrator.

Kapalua

Part of the Steilmann Group, ERS was appointed to liquidate €3m stock at cost price though a small network of branded stores and multiple wholesale accounts. The brand and 10 stores was subsequently sold to another party.

Boecker

Part of the Steilmann Group, ERS was appointed to liquidate €5m stock at cost price though a small network of branded stores and multiple wholesale accounts. The brand was subsequently sold to another party.

Kirsten

Engaged to clear stock and manage the closure of 6 stores, and separately to clear stock in the main warehouse. Total inventory in excess of €10m at retail price.

Wohrl

Acted as agent on the retail and wholesale liquidation of almost 250 stores and 1300 wholesale accounts across 7 countries. Total inventory of €78m at retail price.

Basler

Engaged to manage the business as an advisor during an initial M&A process, subsequently appointed as agent to liquidate stock in 135 stores, manage the ROT and warehouse closure as well as central costs. Total inventory of £30m at retail price.

Brantano

Appointed by the Administrator to manage stock clearance.  Total inventory of  c£40m at retail price.

Austin Reed


Other relevant team experience

Below is a selection of transactions conducted by current ERS team members, prior to the formation of ERS.

Engaged by the Administrator to move stock and clear stores of other assets in 144 store locations across the UK. The  task was time critical for the Administrator in order to complete an accelerated M&A process. The assignment was completed in 4 days, exceeding the plan agreed with the Administrator.

Game

Appointed by the Administrator to manage the net orderly liquidation of the business, including ROT. Total of £135m inventory at cost price across 235 stores and 3 warehouses.

Comet

Appointed by the Administrator, as part of a pre-pack administration, to close 165 stores and liquidate the inventory. By demonstrating the potential profitability of certain stores, 50 additional stores were included in the go-forward business.

Bonmarche

Appointed by the Administrator to manage the 187 stores and move the inventory into a Central DC, prior to the purchase of the business by an outside party.

Jessops

Appointed by the Administrator, as part of a pre-pack administration, to close 95 stores and liquidate £7m inventory at cost price. 

Dreams

Appointed by the Administrator to manage the 76 stores whilst an M&A process was conducted. The business was subsequently sold as a going concern.

Fenn Wright Manson

Appointed by the Administrator as Agent to close 56 stores and £35m of inventory at cost price. Further self-funded inventory of £5m was acquired  to enhance recoveries further. Some 8 stores were successfully sold as a going concern.

TJ Hughes

Appointed by the Administrator as an advisor to manage the chain during an M&A process. Subsequently appointed to close the 77 stores and liquidate the inventory, following an unsuccessful sales process.  Additional self-funded augment  stock was brought into the business to improve recoveries.

 

 

Barratts

Appointed by the Administrator as advisors to manage the stores and value the  inventory across 186 stores prior to an M&A process being completed.

Albemarle Bond

The business had a considerable quantity of old overstock lines , which needed to be cleared to help in their short term liquidity. Approximately £5m of stock was cleared through the T J Hughes stores in a period of 12 weeks, exceeding the planned recovery required by the company.

Makro

Appointed to manage the solvent wind down of the 40 store electrical chain and  €65m  of inventory at cost price.  A further €2m of additional stock was brought in to the business to increase recoveries.

ProMarkt

Retained to close its largest store with approximately €3m of stock at cost, exceeding the planned recovery by over 20%.

Wehmeyer

Engaged as agent to close a small number of stores and liquidate the inventory, following a successful sale of the business.

Shoon

Appointed by the management team during a self -administration process to close 17 stores and clear €4m of inventory.

Strauss Innovation

Appointed by the Administrator to close 117 stores and €13m inventory at cost price over an 8 week period.

Blockbuster Italy

Appointed by the company to close 10 stores across Italy with c€5m of inventory.

MCS

Appointed by the management to clear excess merchandise through our own pop-up store.

Mexx

Engaged by the Administrator to close 21 stores, clear the stock and transfer assets back to a central warehouse, following a successful sale of the core business.

West Cornwall Pasty Co.