Overview:
Exigen completed the sale of Pulbrook & Gould Limited, a renowned London-based floristry business established in 1956 and known for serving a prestigious customer base. Trading from two premises in London, the company achieved a turnover of £1.2 million before facing financial challenges that threatened its future.
Financial Challenges:
The loss of several key clients led to a decline in profitability, leaving the company unable to maintain payments to suppliers and HMRC. With no further funding options available, the Directors sought professional advice. Richard Hunt and Simon Franklin Plant of Exigen were appointed Joint Administrators on 18 December 2019.
Agents were instructed to undertake a marketing campaign and valuation while the business continued to trade for four days to maintain its value and reputation. Following the marketing process, a sale of the business and its assets was successfully completed, and the majority of employees transferred to the purchaser.
Simon Plant, Director of Exigen Group, commented:
“Our priority was to preserve the legacy of such a well-established London brand and protect as many jobs as possible. By maintaining trading during the Administration and ensuring the business was widely marketed, we achieved a positive result for both the employees and the company’s long-standing customers.”
Outcome:
Exigen’s involvement ensured the successful sale of the business and assets on a going-concern basis, preserving seven jobs and safeguarding the continuation of a respected floristry brand that has been part of London’s retail landscape for decades.