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Joanne Hammond

Administration

| July 27th 2016

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Corporate Trends Administration

In 2010, Sheffield-based workwear and uniform supplier Corporate Trends initiated a strategic growth plan which resulted in a £250,000 loss. Due to the seasonality of the company’s products, it subsequently began to experience sales and cashflow difficulties. Steps were taken to refinance the business and reduce costs, however, despite continuing to trade for a number of years, cashflow problems continued and the business was unable to pay its debts.

Corporate Trends went into administration on 14 July 2016 and Gareth Rusling and Joanne Hammond from Begbies Traynor were appointed as joint administrators. The business and assets were sold to Manchester-based textiles group Sir Jacob Behrens and Sons Limited on the same day. All Corporate Trends’ 11 employees, as well as its two directors, were transferred and no jobs were lost.

Joanne Hammond

About the author

Joanne Hammond

Director

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Joanne Hammond is a Director at Begbies Traynor and is based at the Sheffield office.

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Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland
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