Begbies Traynor Group

2nd Thoughts Ltd

T-shirts-on-hangers.jpg

2nd Thoughts Ltd, trading as Ellie Louise and Happit, was sold by our Leeds team after this long established chain fell victim to the retail sector downturn. Moving quickly they secured a buyer three days after appointment. HMRC had issued a winding up petition but liquidation would not be the best outcome, halting trade, losing goodwill and increasing preferential creditors through significant redundancies. Administration enhanced goodwill, ensured customer continuity and retaining most staff. This prompt ‘going concern’ sale allowed 49 stores in leasehold premises to go on trading, protecting over 240 jobs and minimising creditor claims.

Contact Begbies Traynor Group

Reason for Contact
News Coverage and Expertise

Our Media Centre

Read our latest news, expert opinion pieces and articles covering the the professional and financial sector.