LONDON, ENGLAND, February 25, 2011
/24-7PressRelease/ -- Jason Baker and Geoff Rowley, partners at FRP Advisory LLP, thespecialist restructuring, recovery and insolvency firm,were appointed on 21 February 2011 as Joint Administrators to the UK retail arm of Arrogant Cat, the boutique fashion store favoured by celebrities such as Katie Price and Pussy Cat doll Kimberley Wyatt.The company's Hong Kong store and franchises in Denmark, Kuwait and Dubai remain unaffected.
Arrogant Cat, launched in 2001 in Soho by founder and Creative Director Somi, currently operates three stores in London, employing 12 members of staff.
Commenting on the administration, Jason Baker said: "There are currently no plans for any redundancies and the business will continue operating as normal.
"Arrogant Cat was forced into administration as a result of cashflow problems caused in part by the recession and a drop in trade. Howeveritis a strong brand, has a loyal clientele and excellent trading locations; we are very hopeful of selling the business as a going-concern."
Arrogant Cat has historically been a highly desirable brand, worn by celebrities on both sides of the Atlanticincluding Misha Barton, Lindsay Lohan, Alexa Chung and Kate Bosworth. FRP Advisory is marketing the business to prospective buyers and hopes to conclude a sale within the next two weeks.
Interested parties should contactMarcus McMillan on 020 3005 4000 or via email at marcus.mcmillan@frpadvisory.com.
About FRP Advisory
FRP Advisory LLP is focused on creating, preserving and recovering value for its clients.
The firm offers a comprehensive suite of services to the mid-market and financial community. These focus on enhancing the performance of businesses, as well as saving businesses in distress.
Services include: commercial & asset finance, corporate insolvency, restructuring, independent business reviews, interim management & placement services, personal insolvency & advisory, creditor services, insolvency investigation services and banking live-side support.
With 28 partners and 200 staff, FRP Advisory is one of the largest restructuring, recovery and insolvency firms in the UK, operating out of 9 locations including London, Bexleyheath, Hornchurch, Birmingham, Manchester, Leicester, North East, St Albans and Worthing.
To find out more, visit http://www.frpadvisory.com
http://www.frpadvisory.com/news_2010-08-11.html
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