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Intellectual Property of Paul Simon put up for sale

11 July 2014

Since the furniture store fell into administration at the beginning of April, all stores have either been sold off or put up for sale. It has now been reported that the Intellectual assets of the business are to be marketed globally, with the assistance of Intellectual Property specialists, Metis Partners.

Due to severe weather conditions resulting in cashflow problems and tough online competition, the furniture chain entered administration and sold off seven stores to Lewis Home Retail. The remaining stores closed as it became evident there was no interest from potential buyers. Lee Manning and Nicholas Edwards of Deloitte were appointed joint administrators. 

In charge of marketing the business’s intellectual assets, Nat Baldwin of Metis Partners, commented “Paul Simon is a very well-recognised and uniquely valuable name. We anticipate strong interest from professionals involved in furniture, homeware, home furnishings, DIY, haberdashery, textiles and brand acquisition.”

Metis Partners have previously been involved in the sale of assets of well-known furniture and household retailers, like Allders and MFI.