MCR appointed administrators to Vergo Retail
Department store operator files for administration to sell business as going concern
Administrators from MCR have been called in at department store business
Vergo Retail.
Sarah Bell and Steven Muncaster, partners at MCR are appointed joint
administrators, and confirmed the company will continue to trade as normal while
its position is reviewed and a buyer sought.
“Unfortunately the company has endured periods of financial loss. It has made
efforts following the recently announced closure of the Lewis’s store in
Liverpool, to seek new finance to restructure the business but has been
unsuccessful in finding a going concern solution. Like many retailers, it has
experienced a difficult trading environment during the economic downturn,” said
Bell.
Vergo was established in 2007 and is based in Liverpool with a staff base of
942. It operates approximately 19 department stores including Lewis’s in
Liverpool, Robbs in Hexam and Derrys in Plymouth.
Further reading:
Stockport
County FC getting closer to sale goal
Deloitte
adminstrators sell on northern off licences
MCR
administrators close Ethel Austin
