Makeup artist Napoleon Perdis has actioned a Deed of Company Arrangement after placing his self-titled beauty brand in voluntary administration in January.
Perdis, who will steer the business as creative director, hopes to grow the brand to a level which will allow it to compete globally.
The arrangement will bring the company back under the current directors control, and allow it to trade as usual, though Perdis will continue to be assisted by administrators at Worrells Solvency & Forensic Accountants.
The plan, Perdis explained, is to ensure that all staff are able to retain their employment, and provide a stronger outcome for creditors and landlords.
Its vital to generate a sustainable recovery plan going forward, Perdis said.
The…
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