After analysing the trading position of Collectables, the joint administrators have concluded it is not possible to continue trading the company’s 14 stores. Therefore they will not be re-opening during the course of the administration of the business.
As a consequence, most unfortunately 150 employees have been made redundant, with a skeleton staff numbering 12 retained to assist the administrators as they continue to pursue a sale of the business and assets, while taking steps to manage an orderly wind down.
Employment specialists from KPMG’s restructuring practice will be ensuring the employees are supported in claiming their unpaid wages and notice pay from the government’s Redundancy Payments Office.
Any parties wishing to express an interest in the business and/or assets of the company should contact James Lumb on 0191 401 3939 / email@example.com.
Alison Anderson, KPMG Corporate Communications
T: 0113 254 2980 E: firstname.lastname@example.org
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.