Duff & Phelps Completed the Restructuring of East LimitedDuff & Phelps is pleased to announce that it has recently completed the restructuring of well-known UK contemporary women’s fashion retailer East Limited, rescuing 80 stores and 550 employees’ jobs.
About East Limited
East Limited, trading as East, operated from over 100 stores and concessions across the UK, Channel Islands and Ireland turning over c.£38m.
Duff & Phelps’ Role
The company sought assistance from Duff & Phelps after suffering losses in recent years due to the continuing difficult economic and retailing climate, as well as the shift in consumer spending in different channels away from the traditional high street stores.
Duff & Phelps successfully sold certain company assets via a pre-packaged Administration process, which resulted in the continuation of trade from over 80 stores and concessions and more than 550 employees being transferred to the purchaser.
Geoff Bouchier acted as Joint Administrator of East Limited and commented, “the restructuring process has resulted in the continuation of viable stores and the safeguarding of the majority of the employees and ensures that the business is financially secure for future trading.”