Liquidator seeks buyer for Pulse Accessories
Published 23/10/2010 | 05:00
Fashion retailer Pulse Accessories has been put up for sale by liquidator Ken Fennell of Kavanagh Fennell.
Mr Fennell is seeking expressions of interest from potential buyers by close of business on Tuesday in what appears to be an effort to flush out potential buyers as quickly as possible.
Pulse Accessories operates 27 costume jewellers' shops across the country, mostly in shopping centres. Sister company Impulse Products is a wholesale business. The two brands are the trading names of Berganza Limited, which was put into liquidation by the High Court after it was petitioned by the company.
Trade creditors, including landlords, rather than the banks, are the main creditors owed by the business,
Mr Fennell was appointed Provisional Liquidator of Berganza Limited by order of the High Court on October 20.
All 130 staff employed by Berganza were made redundant after Mr Fennell was appointed.
Between 30 and 40 employees are understood to have been temporarily rehired as the liquidator keeps some stores open in order to maximise the chances of selling the business as a going concern. Shutters have been pulled down on a number of stores.
Mr Fennell is due to report back to the High Court on November 15.