James Cowper to liquidate Designer Rooms retail chain
Thames Valley accountants and business advisers James Cowper 
has been appointed to liquidate the Designer Rooms, the retail chain that ran into difficulties with £1m of debt in the run-up to Christmas 2009.
Designer Rooms, founded by Jeremy Whaley, the clothing retailer behind the popular Pilot chain of stores, employed 160 people in 10 stores across the England, Wales and Scotland, including Whiteley Village in Southampton.
James Cowper’s Peter Whalley has been appointed to place into liquidation the various companies that made up the Designer Rooms retail chain.
Peter said: “James Cowper was first approached in December when the management was trying to find a buyer for Designer Rooms. After extensive negotiations over terms, however, a prospective purchaser willing to take on a number of the outlets withdrew forcing the store closures Problems procuring quality stock lines, reduced consumer demand and adverse weather conditions all proved too much in the end”.”
Peter, assisted by fellow partner Sandra Mundy and manager Richard Warwick, assembled a team to visit all 10 stores – from Ashford in Kent to Stirling, Scotland in order to consult with staff about impending redundancies; secure store takings; and arrange the orderly removal of clothing stocks.
Peter adds: “It is a difficult time for the Designer Rooms’ employees, but I expect that, in time, all shop floor staff will be able to receive all wages, holiday pay and redundancy to which they are entitled from the Redundancy Fund compensation scheme operated by the Department for Business Innovation & Skills.
James Cowper has a strong track record in advising and turning around failing companies. Over the past 18 months the firm has secured the sale of TEAM, a South Wales-based automotive supplier, which should enable creditors to be paid in full; advised on the purchase of a £25m recruitment business out of administration saving 2,000 jobs; and has advised a number of companies in difficult negotiations with HMRC in relation to crown debt arrears in a bid to avoid formal insolvency. ‘Unfortunately, says Peter Whalley, the Designer Rooms’ problems were just too intractable to resolve’.
Peter Whalley, Partner, James Cowper LLP, Tel: 023 8022 1222 or email pwhalley@jamescowper.co.uk
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