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MCR - appointed administrative receivers to CDU Plc
25
Mar '11
John Whitfield and Philip Duffy, Partners at MCR, have been appointed Joint Administrative Receivers of CDU Plc, an AIM listed company. The Company has recently changed its name from Slimma Plc to CDU Plc following its divestment of the Slimma brand.

The 60-year-old business, operating from both London and Staffordshire, employs 44 people specialising in the design, sourcing and wholesale of premium occasionwear brands Frank Usher, Coterie, Michel Ambers and Dusk.

John Whitfield, stated: "Like many in the retail sector, CDU Plc has experienced a difficult trading environment during the course of the past 2 years. This has been exacerbated by a further downturn in consumer spending."

He added: "The Company is trading as normal at present while all options are considered. There is already interest in the business and brands and we hope to be able to secure a going concern sale of the business and its assets in due course."

MCR

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