ReSolve sells Oliver Sweeney stock
Following the appointment of Lee Manning and Simon Jagger as joint Administrators of Oliver Sweeney Trading Limited on 13th July 2020, ReSolve has completed the pre-pack sale of the stock and assets to a Newco.
Oliver Sweeney Trading Limited did not own the Oliver Sweeney brand or have any licence to use the brand, so the sale was of stock only. The Company’s stores did not re -open after lockdown, with the exception of one central London store which opened on a trial basis but experienced a very low level of sales and was closed within a week.
The latest in a number of retailers badly affected by the Covid-19 pandemic, Oliver Sweeney will continue to trade as an online and wholesale business only, with the possibility of opening franchises and concessions in the future.