Crussh saved from administration
It's more positive news for many retailers than expected as the year end results are being published. Consumers were out in force in the run up to Christmas, potentially a last hurrah before the tightening of belts and the credit card bills start to bite. Things may be a little more gloomy for hospitality but the work done by our restructuring team with the administrators at Crussh is an example of how we can help businesses come back from the brink, saving jobs and great brands from disappearing for good.
Kunal Gadhvi, restructuring and insolvency partner at Irwin Mitchell and consumer sector specialist, advised FRP throughout the transaction.
Gadhvi said: "Crussh has like many hospitality businesses been impacted by rising energy prices and the cost of living pressures on households causing an adverse impact on consumer confidence. This added to the lockdowns associated with the pandemic has created a ‘perfect storm' of financial difficulties. This deal is a great outcome for the business, as well as the people that work there."”
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