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The UK’s high street has been hit with multiple store closures and job cuts, as the sector continues to suffer through a major financial crisis. Stores and jobs are being lost in greater numbers than during the 2009 recession, thanks to a number of contributory factors. The main issues are a fall in consumer confidence and spending, Brexit-fuelled inflation and soaring business rates.

Many major high street names, including Toys r Us, Maplin, Bargain Booze and Poundland have all plunged into administration. Other traditional UK high street retailers such as Marks & Spencer and Mothercare have also been forced to close many of their outlets as profits plummet. With more falling sales figures and grim profit warnings on the horizon, it’s no wonder many retailers are now looking to close down their businesses.

If this sounds like your situation, Clarke Bell can help.

Specialists in the retail sector

As sales stagnate and costs rise, the mounting pressures will inevitably lead to more insolvencies in the retail industry. If your business is amongst those facing liquidation, increasing cash flow problems and an uncertain future, then getting expert advice early is essential.

At Clarke Bell, our Licensed Insolvency Practitioners have spent years working in the retail sector, providing specialist advice to retailers so that they can better secure the future of their business.

Our experts can help you decide which options are best for you.

Do you need to close down your retail business?

We provide retailers across the UK with practical solutions when they’re in financial difficulty. Our specialists are always empathetic to your situation, and can deal with your issues head on, even in the most complex of cases.

Many retail owners opt for a Company Voluntary Arrangement (CVA) as this solution can help them regain control, and take care of any business debts in order to secure the future of the business. If you have mounting debts and are looking for a way to help in delaying or reducing payments, then a CVA could be the ideal option for you. Even if you’re already in the process of company liquidation, or you’re looking for an exit route from an administration, a CVA can still help.

Often the best option for retailers going through financial difficulty is to go through a procedure called a Creditors’ Voluntary Liquidation (CVL). This is where the company is formally liquidated, with all of the directors’ legal obligations being fulfilled in accordance with all relevant legislation.

With a CVL, you’ll be able to:

  • Close down your business in the correct way.
  • Deal with any business debts and legal obligations.
  • Free yourself from a bad financial situation, move on and make a completely fresh start.
  • Protect the interests of your creditors and limit your own personal liabilities.
  • Take control back of your retail business.

Clarke Bell’s fee for a Creditors’ Voluntary Liquidation is from just £1,995 +VAT

Find out more about Creditors' Voluntary Liquidation

Don’t wait any longer, get professional help now

Are you the owner of a retail business dealing with mounting bills? Cash flow problems and potential liquidation? Are you struggling to pay creditors?

Whatever your situation, Clarke Bell are on hand to give you the crucial insolvency advice that can make all the difference. Our specialists strive to make the liquidation process as simple as possible, with a number of options available to you, including a CVL.

Clarke Bell’s fee for a Creditors’ Voluntary Liquidation is from just £1,995 +VAT. If other options are more suitable, we will advise you.

 

Thank you for all your help with the liquidation matters. You were a joy to deal with.

They kept me properly informed throughout the whole process with full explanations to my many questions….their patience and empathy meant so much to me. My heartfelt thanks to them all!

Thanks to the help I received from Clarke Bell, I am able to pay off my debts in a reasonable and realistic manner.

When it is time to shut up shop

Our client was a retail outlet specialising in women’s clothing based in Wigan. In its first few years of trading, things went well. The number of shoppers coming into the shop increased year on year, as did the turnover and profitability of the business. These good times continued for the first few years and then…

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Clarke Bell steps in to save 25 jobs for retailer

When a novelty gifts and gadgets retailer hit cash flow problems, the company was threatened with closure and the loss of 25 jobs at its five regional outlets, some of which were based in Manchester, Bury and Chester. However, the business was able to continue to trade normally, thanks to the intervention of Clarke Bell.…

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