Successfully negotiating claims since 1867
Retail Furniture Company – Central London
Fire Loss & Resultant Business Interruption
A fire destroyed a range of warehouses in The Wirral, one of which was the primary fulfilment and distribution facility for a prestige home furnishings retail business whose flagship store is in London’s West End. Thompson & Bryan was appointed to deal with the claim following an introduction by a former client.
What We Did
The fire damage affected the warehouse premises and stock in the Wirral and we engaged with Insurers and Fire Investigators to expedite acceptance of policy liability. In liaison with the building owners and client team on site, it became clear that the interruption arising from the fire would result in significant and potentially lengthy turnover losses at the retail end of the business. Plans were developed in consultation with the client and Insurers to establish temporary distribution facilities ASAP, alongside working with the client’s finance team to evaluate the value of stock lost and the lead time involved in sourcing replacement.
The temporary distribution facility and acceleration of stock replenishment formed part of the business interruption claim supported by Insurers, successfully mitigating a large part of the potential turnover losses arising from the fire. The prioritisation of mitigation efforts and exploration of all available expediting measures relating to stock replacement were critical to the successful outcome of this claim.
The Outcome
With settlement successfully negotiated in relation to the stock and property damage claims, plus the business interruption, the Business recovered successfully and remains a household name in London retail.
Client Testimonial
The client was delighted with our efforts and offered the following testimony…
As you know, I was in two minds whether we needed to appoint a loss assessor following our warehouse fire in February this year, but I am extremely pleased that we did so, and I can say with absolute certainty that it significantly improved our negotiating position and the size of our insurance recovery. In fact, I would say to anyone in a similar position facing any substantial claim that they should have an expert fighting their corner
I would like to put on record what a fabulous job you’ve done for us. Your understanding of the case, attention to detail and dogmatic perseverance was key to a successful outcome.
