Soft furnishings specialist Julian Charles which was originally founded in 1947 and had 70 UK outlets of which 41 were standalone stores, plus concessions, filed a notice of intention to appoint administrators. This led to it appointing of Marco Piacquadio and Alan Coleman of FTS Recovery. A near-immediate sale was made by the administrators to Great Bedding Co.Ltd, which saved 230 jobs across 25 stores and additional concession sites.
Julian Charles had been impacted by rising costs and declining consumer confidence.
Maco Piacquadio commented; “As is typical when we are parachuted in, we were focused on seeking to rescue as many elements of the business as is possible, always front of mind being the position of employees, consumers and other creditors and stakeholders. This was a relatively complex transaction with significant scale and the ability to move quickly was key. I am grateful to have achieved a really pleasing result given the circumstances and we wish the new owners and remaining staff and stakeholders the very best going forward.”
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