Dilip Dattani and Patrick Ellward of RSM Restructuring Advisory LLP have today been appointed Joint Administrators of CUK Clothing Limited and Courtaulds Brands Limited.
The companies manufacture and supply branded and private label clothing to retailers in the United Kingdom and internationally. Its products include hosiery, socks, bras, underwear, nightwear, formal and casual wear, jackets and coats. The companies employ around 380 staff in Derbyshire and London.
The main reason for the demise of the companies is attributed to the impact of the administration of BHS, a major customer, and the declining volume of sales and profitability over the recent period.
Dilip Dattani, RSM Partner and one of the Joint Administrators said:
‘The administration of BHS has added to the challenge of operating within a fiercely competitive market for seasonal products. This has left the directors with little choice but to place the companies into Administration. Regrettably, we have been forced to make 350 employees redundant to align with the current order book, and we are assisting them with their claims to the Redundancy Payments Service. We are currently engaging with the key customers to assess their ongoing orders and delivery schedules.’
Any interested parties are invited to contact the Joint Administrators on 0115 964 4467 or by emailing firstname.lastname@example.org.