Project 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.