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Restructuring firm bags £1m from Links of London demise

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Restructuring firm, Gordon Brothers, is in line for almost £1 million payday after it helped wind down the Links of London business.

Gordon Brothers, which was also involved in the the administration of Toys R Us, was drafted in to work with administrators at Deloitte after Links of London plunged into administration in October, The Sunday Telegraph reports.

Following a time of letting staff go at the Links of London head office, and slashing prices in an ‘everything must go sale’, the brand left the British high street just after Christmas.

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London-based Gordon Brothers was tasked with selling leftover products, and helped close the company’s 28 stores and seven concessions.

The estimated fee for doing so is £890,000 plus tax, according to an administrators’ report.

Meanwhile, Deloitte says it was unclear if there would be any money left for unsecured creditors such as landlords and suppliers, despite managing to sell £5.3 million of stock.

Scandal-hit parent company, Folli Follie, will likely not receive back any of the £97m it had lent to Links.

Tags : LinksLinks of London
Sam Lewis

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