Duff & Phelps Completed the Restructuring of the Well-Known Watch Brand Uniform Wares
Duff & Phelps is pleased to announce that it has recently completed the restructuring of the well-known watch brand Uniform Wares.
About Uniform Wares Limited
Uniform Wares Limited, trading as Uniform Wares, operated from a leasehold property in central London and had a turnover of £1.4m in the year ending 30 April 2015. Famous retail stores in London stock the Uniform Wares brand and the watches are also sold online to customers across the world.
Duff & Phelps’ Role
The company sought assistance from Duff & Phelps after incurring CAPEX of c£452k on the development of a new website which did not generate increased sales in line with the expenditure incurred.
Duff & Phelps successfully sold the business and assets of the company via a pre-packaged Administration process, which resulted in the continuation of the brand and the employees of the company being transferred to the purchaser.
Benjamin Wiles acting as Joint Administrator of Uniform Wares Limited commented “I am glad that we were able to offer a solution in the time afforded to us, I am pleased to see the continuation of the Uniform Wares brand and importantly that we have saved the jobs of those employed by the company”.