Specific projects and initiatives

Intertoys, Netherlands (Bankruptcy 2019)

February 2019 to June 2019

In February 2019 we were appointed by European Retail Solutions (ERS) to manage the closing trade of 141 stores over a 16-week period post-bankruptcy. We worked closely with the trustees, Joris Lensink (De Vos & Partners) and Jasper Berkenbosch (Jones Day), implementing strategies to maximise trading profit and the cost recovery of stock. This was the first instance in the Netherlands where the trustees appointed retail experts rather than manage trade themselves.

The project requirements were particularly complex, especially given that 50% of store team members were made redundant with immediate effect resulting in a reliance on temporary staff. We endeavoured to ensure that the remaining store teams remained engaged and positive throughout this difficult period.

Post trading, we facilitated the full strip-out of approximately 90 stores and the physical handover of approximately 130 stores.

Once concluded, the trustees were keen to show their satisfaction, stating that the work we had completed was “outstanding”.