×
2 305
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots-Liverpool Street, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots-Handforth Dean, Wilmslow - 15 Hours / Week - Part Time, Permanent
Permanent · Wilmslow
ESTÉE LAUDER
Clinique - Consultant - Bentalls, Kingston- 21.5 Hours / 3 Days / Week - Part Time, Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
la Mer - Business Manager - Flannels, Meadowhall - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 17.5 Hours / 3 Days - Part Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots, Warrington - 17 Hours - Part Time, Permanent
Permanent · Warrington
ESTÉE LAUDER
The Estée Lauder Companies - IT Service Desk Manager UK
Permanent · Fareham
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part Time, Permanent
Permanent · Bishop's Stortford
JOHN LEWIS
Contract Sales Manager
Permanent · DARWEN
PUMA
Cobra Puma Golf - Sales Support Coordinator
Permanent · Castleford
JOHN LEWIS
Loss Prevention Partner
Permanent · LEICESTER
HEAD OFFICE
Team Manager/Chef Victoria Head Office
Permanent · LONDON
VF INTERNATIONAL
Account Coordinator - Italian Speaking - Vans
Permanent · NOTTINGHAM
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
DR. MARTENS
Finance Analyst
Permanent · LONDON
MULBERRY
Lifetime Service Centre, Raw Materials Stock Coordinator
Permanent · CHILCOMPTON
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip Officer
Permanent · LONDON
AUTUMNPAPER LIMITED
Alexander Mcqueen Decision Intelligence Manager
Permanent · LONDON
ON RUNNING
Technical Representative
Permanent · LONDON
DEBENHAMS
Business Development Manager
Permanent · LONDON
Ads
Published
May 12, 2022
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hedge funds, administrator are the winners after Debenhams collapse - report

Published
May 12, 2022

Failed businesses can yield rewards. Hedge funds that ran Debenhams look to have recovered most of their costs so far while the retailer’s administrators have clocked up £5.3 million in fees in the two years since the department store chain filed for insolvency.


AFP


FRP Advisory was appointed to Debenhams in April 2020 after the retailer failed for a second time, shortly after lockdowns forced the closure of its stores for good. 

According to new documents seen by The Times newspaper, Debenhams’ hedge funds have now received £314 million from the administration process. Meanwhile, unsecured creditors — including local authorities, HM Revenue & Customs and defined benefit pension schemes — are unlikely to receive any return.

It’s understood there were about £200 million of trade creditor claims at the time of the administration. The hedge funds have made most of their money back from the sale of the Danish arm of the business Magasin de Nord for £120 million, the document shows.

The administrators’ report reveals that FRP partners’ charges had increased from £495-£595 an hour to between £595 and £695, while a junior professional and support staff rate had also risen from £150-£195 to between £175 and £245. An FRP spokesman declined to comment.

FRP oversaw the sale of the 200-year-old department store’s brand and website to Boohoo Group for £55 million last January. The deal resulted in 12,000 job losses and 124 store closures. Almost 90% of the chain’s former stores remain empty.

Copyright © 2022 FashionNetwork.com All rights reserved.