Multiyork

Store Closure programme for Multiyork, the Premier Furniture Retailer in the UK

Transaction background

• Following the adminstration of the business at Christmas 2017 GA Europe were engaged to manage the store closure programme.
• GA Europe took over the retail operations and stock control of all 50 stores and 3 warehouses.
• The closure programme of all stores and the clearance of the warehouse stock lasted just over 5 weeks.
  

Operational details

• All Stores launched a closure programme a week prior to Christmas.
• GA Europe introduced local and national advertising to drive the awareness of the store closure programme.
• Based on sales performance stores were alocated stock to make sure we had the right stock in the right place at the right time.
• Through distribution,and daily and weekly  monitoring of sales stores also received new stock purchased from the suppliers of the business to further enhance the sales performance.
• GA Europe's retail operational expertise had an immediate and significant impact upon the chain's trading performance, increasing like-for-like sales through our in store marketing and signage pack.
  

Outcome

• 42 stores were closed and 8 transfered to a major furniture competitor including the store teams.
• A number of stores were sold onto other retailers who took up the space after closure securing more enployment for multiyork employees.
• All stock was sold through multiyork stores with the business fixtures and fittings being sold online by our partners.
• Due to our sensitive approach GA Europe, managed to deliver through a very difficult trading period the required results for the business and build a very good working relationship with all the relevant parties both on and off site.