Hallett Retail Services ceases trading and appoints liquidators
Hallett Retail's concession advisory, Hallett Retail Services, has ceased trading with immediate effect.
Hallett Retail provided a range of concession services to retailers and brands but suffered financial difficulties following the loss of major clients in recent years.
On 28 March 2022, the directors of the business made the majority of concession staff redundant and ceased trading. A small number of staff have been retained to assist with completing the final transition of its remaining concession services to retailers and brands.
A source told TheIndustry.fashion that Hallett Retail Logistics, the company’s logistics, e-fulfilment and warehousing arm, is not expected to be impacted by the insolvency.
Without the prospect of a sale or ability to continue as a going concern, the directors filed for liquidation. The company has now ceased to trade and Steven Ross and Allan Kelly of specialist business advisory firm FRP have been instructed to place the company into voluntary liquidation, and will now assess the assets and liabilities of the company and implement an orderly winding up of Hallett Retail’s operations.
Founded by Wendy Hallett MBE and trading since 1999, Hallett Retail was set up to "solve the problem for the high street retailer who had retail space to fill and for the smaller brand or supplier who lacked the contacts or retail service in order to trade on the high street".
Hallett spent 13 years at Arcadia in Store Manager and Area Manager roles which included overseeing Topshop’s Oxford Street flagship store and managing the relationship between Debenhams and the Arcadia brands trading with them as concessions.
Steven Ross, Partner at FRP said: “The relentless evolution of retail has put an incredible pressure on the business models of those supplying the sector. Hallett Retail has suffered the financial impact of that change and was not able to continue trading.
“We’re working with the Directors to manage the winding up of the business, but also assist staff affected by the liquidation. We will be contacting suppliers and clients of the business regarding making claims in the liquidation.”