Richard Roberts Knitwear Limited

Acting as agent to the Joint Administrators of Richard Roberts Knitwear Limited, Wyles Hardy & Co. managed the disposal of textile machinery. Specialising in industrial valuations and asset management, Wyles Hardy was entrusted with the comprehensive sale of equipment central to the company’s knitwear manufacturing operations.

Whilst the initial strategy was to conduct a series of auctions together with planned Private Treaty sales of strategic assets, there was a strong interest from a host of dealer auctioneers keen to secure market share in the sector. Wyles Hardy & Co. conducted a sales process and assisted the administrators in securing a sale to the highest bidder for all of the assets within the group to a dealer auctioneer. This exit strategy fell in line with the administrators’ requirements and demonstrated that Wyles Hardy will always act independently and with an acknowledged duty of care to the various stake holders.