The Pier - shops still open?

withabix

marvin wrote: »

This sale has been ordered by the firm brought in to run the business while the admins seek a buyer. That firm is Hilco the same lot brought in to run woolies after they went bust.

Incorrect.

The Pier is being run by administrators Mazars LLP.

Woolworths is being run by administrators Touche LLP.

Neither has any involvement with Hilco, who didn't buy Woolworths for £1.

marvin

withabix wrote: »

Incorrect.

The Pier is being run by administrators Mazars LLP.

Woolworths is being run by administrators Touche LLP.

Neither has any involvement with Hilco, who didn't buy Woolworths for £1.

Right lets us get this clear according to press reports.

The Administrators have both contracted Hilco to run the retail side of both firms for them whilst they are in administration. Lets face it accountants know diddly squat about running retail so they need expert help in running these firms and Hilco is the firm they have used.

See (yes I know its the star but its the same reporting in most press)
http://www.dailystarsunday.co.uk/latestnews/view/60253/Woolworths-attracts-buyer-interest/

"Hilco, the restructuring specialist which failed in its bid to buy Woolworths' stores for £1 and assume a major share of its £385 million borrowing facility, has been appointed by Deloitte as an agent to help manage the retail arm."

marvin

and the Hilco appointment in regard of The Pier can bee sen here this time the FT.

http://www.ft.com/cms/s/0/bab6c420-c190-11dd-831e-000077b07658.html