In partnership with SinnLeffers’ management team, we developed a strategy that would facilitate a restructure to rescue some elements of the business. A well-loved, established high street fashion retailer, SinnLeffers had fallen victim to the poor German consumer market and entered the administration process in 2008. Our operational plan to streamline the business involved the closure of 24 non-viable stores and liquidation of €23.1 million of aged and obsolete stock. Underpinned by an aggressive sales and marketing plan, we provided an operational and financial guarantee to close the non-viable stores within the 47 store estate. This provided much-needed liquidity to restructure the business and support trade within the remaining 23 profitable stores. Our involvement also allowed the SinnLeffers management team to focus on the restructure and future of the remaining business. Overall the restructure was a huge success, with 23 stores being brought out of administration, saving both a well-loved high street brand and a significant number of jobs.
Expedited a highly efficient company restructuring in partnership with management.