 PKF appointed Administrators of East Anglian based electrical retailers Bennetts (Retail) Ltd
Matt Howard, Philip Long and Stephen Holgate from accountants and business advisers PKF (UK) LLP were appointed administrators of Bennetts (Retail) Ltd on 10 March 2011 following the company Directors’ application to Court.
East Anglian based electrical retailers Bennetts has been trading from 16 stores since 1991, primarily in East Anglia where it has 14 outlets, although the business traces its origins back over 40 years. The company has approximately 300 staff and had a turnover of £55m last year.
Mike Jones, Managing Director said: “The Directors and staff have worked extremely hard over the last two years, harder than at any other time in our history, in an effort to address the particular challenges that the economic climate has presented, this being primarily due to the lack of consumer confidence. We are hopeful that PKF can find a suitable rescue package with all due speed in order to preserve as many jobs as possible, so that we can commence trading again with our loyal customers.”
David Merrygold, corporate recovery partner of PKF stated: “We are already in discussions with a number of parties and hopeful that we will conclude a sale of the business within the next two weeks. Any expressions of interest in the purchase of the business should contact Matt Howard at PKF’s Norwich office. We have set up a dedicated customer helpline, 0845 4582000 to deal with any queries customers may have.”
Ends
For further information, please contact:
DAVID MERRYGOLD
PKF
07768 941769
or
TIM SHELDON
PR WORKS
sheldon@prworks.co.uk
07860 814944
Notes to Editors:
1. PKF (UK) LLP is a leading firm of accountants and business advisers with more than 1,500 partners and staff operating in 23 offices in the UK mainland firm, incorporating a wholly-owned financial planning company and associated offshore practices. The firm specialises in advising growing and entrepreneurial/owner-managed businesses, AIM and fully listed companies, and also has extensive experience in the public and not-for-profit sectors. Principal services include assurance and advisory; taxation; consultancy; corporate recovery and insolvency; corporate finance and forensic. The firm has particular expertise in advising sectors such as hotels and leisure; mining and resource; public sector; real estate and construction; professional practices; not-for-profit; and medical.
2. PKF (UK) LLP also offers financial services through its FSA authorised company, PKF Financial Planning Limited. PKF (Isle of Man) LLC is a limited liability company registered in the Isle of Man. PKF (Guernsey) Limited is incorporated in Guernsey.
3. PKF (UK) LLP is a member firm of the PKF International Limited network of legally independent firms. The PKF International Limited network has around 17,600 people operating in 120 countries around the world.
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