Wills of Rushden Goes into Liquidation

Alan Price and Neil Marshman of insolvency practitioners, Marshman Price, were appointed liquidators of Helen Wills Ltd, the company which operates the Wills store in Rushden High Street, on 23rd August.  The company had been struggling financially for some time on the back of the recession and falling demand.

Alan Price told us: ”We were called in by the directors who were concerned that continued trading losses could not be curbed – the business had effectively run out of spare cash and had no money to buy any more stock.  We have looked at various options to try to save the business, which will continue to trade in the short term while we try to find a purchaser.  A couple of potential buyers have come forward and we are talking to them however it is too early to say what is going to happen.  Regrettably we have had to make 20 people - around half of the work force - redundant to ensure continued trading is economic and we are reviewing the position daily.  There are currently no firm plans to close the store however this will become necessary if we are unable to conclude a sale.  Meanwhile there are some excellent bargains to be had.”

The business was started in the 1930s by the grandfather of the current directors, Richard and John Wills.

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