Tony Barrell, Mike Jervis and Rob Hunt of PwC were appointed as joint administrators of BUK (Realisations) Limited on 21 January 2016.
The company was a value shoe retailer operating 140 stores and 60 concessions across the UK and employing around 2,000 staff. The head office was based in Coalville, Leicestershire with around 200 of the staff.
Brantano (UK) Limited was acquired by Alteri Investors in October 2015 but experienced difficult trading conditions. This resulted in the company being placed into administration, despite sustained efforts to make the business more commercially viable.
Following their appointment, the Administrators continued to trade the business whilst undertaking a sales process amongst interested parties. Having completed this sales process, the majority of the business was sold to Brantano Retail Limited (formerly Lifebelles Limited), a company controlled by Alteri Investors, on 12 February 2016. This preserved 1,372 jobs and 140 stores and concessions.
58 stores and concessions were not included in the sale and the Administrators continued to trade these stores whilst exploring interest. Unfortunately no further interest was received on a going concern basis and these remaining stores ceased trading in March 2016, resulting in 533 redundancies.
BUK Realisations Limited moved from administration to creditors' voluntary liquidation on 13 July 2017 and Tony Barrell and Mike Jervis have been appointed as joint liquidators.
Tony Barrell has since left the firm. An application was made to the Court to remove him as liquidator of the Company. The application was granted and so Tony Barrell was removed and Toby Underwood was appointed as joint liquidator with effect from 10 May 2019.
Further details concerning the administration can be found in the documents below.
Documents available to download:
Anthony Steven Barrell and Michael John Andrew Jervis were appointed as Joint Liquidators of BUK (Realisations) Limited (formerly Brantano (UK) Limited) on 13 July 2017. Anthony Steven Barrell and Michael John Andrew Jervis are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics
The Joint Liquidators may act as controllers of personal data, as defined by the UK data protection law, depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Liquidators.