M HOLT: major UK wholesaler preparing to close
BRITISH trade publication Lingerie Insight reported that one of the country’s leading lingerie, nightwear and hosiery wholesalers, M Holt Manchester Ltd, is disposing of its inventory prior to closure of the business. The move is being made because all three owners of the company are retiring. A director said that attempts to sell it had failed, mainly as a result of the high value of the inventory, which could reach as high as GBP 0.5m at certain times of the year. Holt supplied independent retailers, online stores and market traders throughout the country and had generated a healthy volume of sales over many years.
Given a minimum of goodwill on the part of both sellers and potential buyers, it is rare that a solution to dispose of a healthy business cannot be found, unless the inventory includes a high proportion of merchandise carried over from past seasons that is priced unrealistically.