Gordon Brothers has despatched an expert team to manage all promotion and discounting of stock for the business’ 41 Spanish stores.
Gordon Brothers Europe has extensive and proven experience in private equity and restructuring processes within the retail industry. Recently the company was responsible for the purchase of 264 Blockbuster stores, ensuring the future of the retailer within the UK. Gordon Brothers Europe also lent its global expertise to strengthen the position of the ailing Republic fashion chain driving a 2.5 times increase in sales whilst maintaining a stable margin.
Gordon Brothers Europe CEO Frank Morton said: “Gordon Brothers Europe specialises in the restructuring of retail businesses and the streamlining of assets to ensure healthy on-going business operations. We are confident that we will be able to deliver a cost-effective wind-down proposition.”
Simon Enoch, Company Secretary Darty plc commented: “We have appointed Gordon Brothers Europe because of the company’s vast experience and proven track record within the market.”
About Darty plc
Darty group is a leading cross channel service led electrical retailer operating over 450 stores in eight European countries and achieving 11 per cent of its products sales on the web. It generated an annual turnover of nearly €4 billion in 2011/12 through three operating segments: Darty (France), Other established businesses (which consists of Vanden Borre in Belgium, BCC in the Netherlands, and Datart in the Czech Republic and Slovakia), and Developing businesses (which consist of Darty Spain and Darty Turkey). Its ordinary shares are listed with the UK Listing Authority and trade on the market for listed securities on the London Stock Exchange under the symbol DRTY.L. It is also listed on the Premier Marche of the Paris Stock Exchange.
For further information, please visit the company’s website, www.dartygroup.com.