Historic Painting Retailer Rescued Through Strategic Administration

PaintWell Group, the UK’s second largest painting and decorating retailer with a prestigious heritage dating back to 1838, faced financial difficulties following a market downturn timed with an ambitious branch expansion strategy that resulted in sustained losses from 2022. This aggressive expansion over stretched the Group’s resources, with the company entering administration and putting nearly 200 jobs at risk, along with the future of a historic British business. The challenge was particularly complex, as this involved 45 branches across England and Wales including an industrial paint distributor. Time was of the essence to find a suitable buyer and ensure operational continuity for customers, employees and stakeholders.

Kroll's strategic intervention safeguarded nearly 200 jobs and ensured business continuity, preserving valuable industry expertise. The acquisition by the strategic buyer provided the much-needed stability, allowing customers to experience uninterrupted service.

Through a fast-tracked sale process, Kroll minimized costs and maximized value recovery. Utilizing cross-service expertise, the team secured a pre-packaged sale to the strategic buyer, integrating 39 of 45 retail branches and the industrial paint distributor while streamlining operations and reducing overheads. With Kroll’s guidance via a Transitional Services Agreement, the seamless transition protected creditors—ensuring the first-ranking secured creditor could recover its full indebtedness.

Ultimately, Kroll’s decisive action preserved a 187-year-old British institution, securing its future in a challenging environment.

Need help staying ahead of a complex challenge?

Talk to an Expert