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Hilco UK Acquires Kraus Carpets

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Newsletter Newsletter Q2 2012 Gunn off like a shot Hilco UK acquires Kraus Carpets in the toughest race on earth Red Ash Capital Partners, a subsidiary of Hilco UK, completed the acquisition of floor coverings manufacturer Kraus in June, marking Hilco’s second major investment in Canada, following the acquisition of HMV Canada in 2011. Waterloo, Ontario-based Kraus is Canada’s leading exporter of carpets, serving the USA, Canada, Europe, Australia and parts of the Far East. The Kraus group of companies has traded since 1958 with ten manufacturing and distribution businesses from operating competitively. locations in Canada, the USA and Australia including the group’s 25 acre site in Waterloo (pictured). Since its acquisition by Hilco, Kraus has won the approval of its workforce for a new union contract, Historically, Kraus has traded with providing the flexibility that the a significant surplus but recent company needs to compete years have seen the group in the global market and has struggle due to the decline in US secured significant new funding Hilco UK was proud to sponsor sales of carpet and flooring, coupled with an excessive lines, marking major progress in the restructuring and John Gunn as he competed in the debt burden and an outdated union agreement that turnaround plans that will enable Kraus to return to 27th Marathon des Sables (“the prevented Kraus’ yarn and carpet manufacturing profitability. marathon of the sands”), the most infamous and demanding ultramarathon in the world. Strong end to second quarter for HMV Canada Billed as the “toughest footrace on The period also saw three new store openings with earth”, the exceptionally gruelling the Scarborough, Ontario and St Vital, Winnipeg stores six day race covered approximately relocating to improved units in their respective malls 150 miles through the Sahara and the launch of a new, pop up store concept in the desert. Competitors battled through Dixie Outlet Mall in Mississauga, Ontario (pictured). rough terrain, including enormous The pop up store, branded HMV Express, is the first sand dunes, small mountains and of a series of temporary, seasonal stores that form expansive desert with temperatures a key part of the company’s strategy of adapting its reaching 50C in the daytime and store portfolio to the changing nature of the market for -10C as the runners camped out physical entertainment media. at night. The team at HMV Canada completed a busy second HMV Canada has also relaunched its customer loyalty John completed the race in quarter on a high note with like-for-like unit sales up programme, purehmv, on the second anniversary of one piece – an exceptional 7% in June, driven by a strong new release schedule. the scheme’s inception. Designed to offer the retailer’s achievement in itself – in just A further boost to sales came from the successful trial best customers ‘cool stuff money can’t buy’, members over 60 hours, raising funds of enhanced Gift & Collectibles and t-shirt ranges in 22 redeem points earned on purchases for exclusive for Yorkshire Cancer Research. stores. The ranges are due to be rolled out to the rest memorabilia and experiences. A new in store sign up Wholehearted congratulations to of the store estate in September. process has seen registrations increase by 25%. John from all of the Hilco UK team. www.hilcouk.com • Tel 020 7317 2050 Newsletter Allders of Croydon HRPS helps wholesaler hit the high street launches final sale of the Oxford Street store’s prestigious new World of Shoes women’s footwear department. The extensive experience of the HRPS team in managing new store, concession and outlet projects for major retailers and brand owners resulted in the 1927 Hilco UK was appointed by concession opening on time administrators Duff & Phelps in and with a significant 15% June to operate a store closing saving compared to the original sale in Allders of Croydon. HRPS, Hilco’s property services division, budget. has worked with the management team of Once the flagship of the national branded fashion wholesaler 1927 to create 1927’s House of Fraser Oxford Allders chain, which collapsed their first 1927 department store concession which Street concession, with its innovative, playful design, is into insolvency in 2005, the opened in June. The concession in House of Fraser’s trading well despite unforgiving conditions on the high independently owned Croydon London flagship stocks brands including Kurt Geiger, street and has already garnered considerable interest store is one of the UK’s largest See by Chloé and Juicy Couture and forms a key part from other major department stores. department stores. Recent years have been particularly Denby links up with Imperial War Museums difficult for Allders and Croydon in general with numerous factors, Denby Pottery announced a partnership with the healthy eating during rationing. Poster designs featuring such as the failure of the proposed Imperial War Museums in May. The collaboration will characters such as Doctor Carrot and Potato Pete are Park Place scheme and the 2010 see Denby develop a collection of kitchen to table adapted into placemats, melamine trays and mugs. riots, intensifying the impact of the accessories using unique and wider economic downturn. captivating images from IWM’s Speak Your Mind! repurposes archive. the bold typographic posters that The first days of the closing down popularised mottos such as ‘Victory sale have already seen large The IWM houses collections is in the Kitchen’. The final range, queues at the tills as the discounts including 15,000 paintings, Wear a Smile!, uses black and and sense of urgency have 50,000 posters and over 10 white photographs that tell the tempted reluctant shoppers back million photographs which depict tale of every day wartime life, into the store. The administrators the everyday and the exceptional, including iconic images by noted are talking to a number of parties revealing stories of people, places, photographers such as Cecil interested in acquiring parts or all ideas and events since the first Beaton. of the business while Croydon’s world war. long term future is looking up as The nostalgic Imperial War Museum competition between Westfield and The Eat Your Words! range draws on classic poster by Denby ranges will launch to the trade in Hammerson to redevelop the town designs from the wartime Ministry of Food that used Autumn 2012 at a range of accessible and attractive centre intensifies. bold illustrations and cartoons to educate the public in price points. 2 Hilco Newsletter Q2 2012 www.hilcouk.com Newsletter Oceans bags another award Twice2much cleans up with major new business wins Consumer goods giant Reckitt Benckiser has engaged the services of Twice2much to conduct an Accounts Payable review. The world’s largest producer of household cleaning products, with a roster of brands that includes Dettol, Finish Twice2much has also been and Cillit Bang, was formed in appointed to undertake Accounts Oceans Outdoor Furniture was The company’s luxurious PE rattan 1999 by the merger of Reckitt & Payable Recovery Audits for the awarded a certificate of merit for outdoor furniture could also be Colman and the Dutch Benckiser 131 year old department store outstanding presentation by the found in pride of place in the VIP NV. Headquartered in Slough with chain Beales, Kirklees Council Royal Horticultural Society for the hospitality suites at this year’s worldwide sales of £9.5bn and in Huddersfield and Europa, a company’s stand (pictured) at this AEGON Championships tennis over 27,000 employees, RB is a leading independent property and year’s RHS Hampton Court Palace tournament at the Queen’s Club in global force in household, health infrastructure support services Flower Show. London in June. and personal care. company. MIG launches Coalition with a difference New Starter giant’s coalition email programme. All of us at Hilco are pleased to welcome Mark O’Neill to the team. MIG manages multiple offers from partners and makes Mark joins Hilco as an Investment contact directly with consumers to invite them to take Analyst, having previously worked up an offer. The data from partners is de-duped so that for Deloitte’s restructuring services all leads are genuinely new to each partner and also team in London and Dublin. the partner receives income from any leads generated from their own data in a compliant way that doesn’t Mark’s experience includes require third party opt-in. working on a number of trading administrations in the UK. Mark The results so far have been very positive, particularly also has significant experience MIG’s latest service offering, Coalition Marketing, in reactivating old and legacy data for the partners in preparing business reviews on launched in May. It is the culmination of years which is free as part of the service. The revenue behalf of lenders of stressed and of work developing expertise in data and digital generated for the partners is shared with MIG and the distressed companies. communications and becoming a data owner as well income to the partner therefore subsidises the cost as partnering with many leading names to create of new leads, making it one of the most cost effective Mark will be a useful addition to a unique email data pool. The idea came about forms of customer recruitment uniquely adding data for the expanding investment team as a development of a successful seven year long partners, whereas activities used by many such as ‘pay and will help support the continued relationship with Nectar where MIG managed the loyalty per click’ advertising do not. growth of the business. www.hilcouk.com Hilco Newsletter Q2 2012 3 Newsletter Twice2much Africa masterminds community sailing initiative Cape Town based Twice2much Africa has T2M Racing organised an outing for young launched an ambitious corporate social people from Brownsville Primary School and responsibility programme.
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