Jane Steer and Sarah O'Toole of PwC have been appointed as joint administrators of R.H. Smith & Sons (Wigmakers) Limited which trades as Smiffy’s (“the Company”).
On appointment, the joint administrators completed a sale of the business and assets of the Company to Ad Populum LLC (“the Buyer”).
Smiffy’s is a much-loved fancy dress retailer that has been operating for over 100 years. It is headquartered in Leeds and has stores in Leeds, Liverpool, Newcastle and Oxford. The financial performance of the Company was significantly impacted by the Covid-19 pandemic which saw a huge drop in demand for costume and party products.
The Buyer owns several brands, such as NECA (an industry leader in pop culture action figures and collectibles), Wizkids (a producer of miniatures and award-winning tabletop games worldwide), Kidrobot (a premier creator of limited-edition art toys and lifestyle accessories), and Rubies II, LLC (a US costumes company).
Jane Steer, joint administrator and partner, PwC, said:
“Smiffy’s is a popular brand that has been operating in one form or another since 1894, but sadly, like many other retailers, it was impacted by the after effects of the pandemic. The buyer, Ad Populum, will add Smiffy’s to its comprehensive range of brands which have extensive reach in the fancy dress and toy markets.”
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 151 countries with over 364,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
© 2024 PwC. All rights reserved.
