Fenn Wright Manson calls in restructuring experts
Fenn Wright Manson is reported to be working with a restructuring firm to safeguard its future.
According to the Independent, the women’s fashion brand, which was acquired by Darwin Private Equity in 2010, has called in Zolfo Cooper to explore a number of options.
The company’s performance has deteriorated in recent months with four directors leaving the business.
One idea reported to be under consideration is placing the business into administration if a suitable rescue plan is not agreed.
In the year to 31 January 2011, Fenn Wright Manson saw its pre-tax profits drop 58% to £864,213 for the year to 31 January 2011.
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