Harris Scarfe undertakes business restructure

Harris Scarfe receivers, Deloitte Restructuring Services, have confirmed the successful closure of 21 stores across the country and of the 401 staff impacted, approximately 70% have either been redeployed, obtained alternative roles outside of the group or are in an active application process.

“The Harris Scarfe team have excelled in supporting staff to find new employment and is grateful to other retailers who have actively supported the process to find employment for the staff impacted,” receiver, Vaughan Strawbridge said.

“All those staff who have been impacted have received all their wages and entitlements in full.”

The receivers extended the deadline for final offers to COB Friday 21 February and anticipate to spend the next 10 days assessing the offers and working with shortlisted parties to address final due diligence queries and any conditions which might be contained in the offers with a view to agreeing a sale/capitalisation deal which will see Harris Scarfe emerge from administration.

“The Harris Scarfe team has done an outstanding job at presenting the business during this process. We could not have hoped for better support from everyone in the business, the stores look great and they present the business exceptionally well. The management team have done a great job and both landlords and suppliers have continued to provide strong support for the business.”

Harris Scarfe was placed into receivership on 11 December 2019.

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