It is always interesting to see what is going on in the market place. This story from last week has caught our eye.
Everyone seems to have heard of Madhouse. The Budget fashion chain has put 700 jobs at risk upon entering administration. They declared a net loss over the 12 month period ending January 2011 of over £195,000. It was reported that the company directors paid themselves £16,000 more in the last accounting year before the chain collapsed.
The lead administrator for the company has also handled the cases of Poundline, Retail Scotia and UK travel Shop in the last few months and is a known name in the retail space. Maybe if they had have approached Beer and Young they could have raised the money they required to save the business.
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