A little birdie told me that Optical Express might be planning to ‘rebrand’!
Last year they approached Arnott Eye Associates (their neighbours @ 22 Harley St), perhaps with a name change in mind, but Arnott’s Director Richard Packard recently assured me, "There are no current negotiations between Arnott Eye Associates and Optical Express and none anticipated”.
It makes sense that OE may be considering such a move, not least because their history of recent years is chequered with bad press - not forgetting the relentless shadow of OERML - and their withdrawal of aftercare beyond 12 months, no matter how damaged the patient, suggests they are unconcerned about the increasing complaints and negative publicity associated with the company name.
And, as more and more people are suddenly discovering that they now have to pay for eye tests they were told were free for life, OERML is flooded with emails every day from people wanting advice!!
Definitely not the way to entice new customers and inspire trust!
Another way to rebrand is to put a company into administration - farcical that this is described on Wikipedia as "a process designed to protect limited companies from their creditors”!
en.wikipedia.org/wiki/Administration_(law)
Pre-pack administration is also an option, whereby the company secures a buyer before entering administration, usually for a fraction of the value, and it is possible for the previous directors or management to purchase the assets of the company from the administrator and set up a new company - as David Moulsdale did with the Bridgewater Manchester Hospital in 2015.
www.manchestereveningnews.co.uk/…/bridgewater-hospit…
While totally unfair to creditors, pre-packs are highly attractive to companies who simply want to shake off their debts and responsibility to previous customers - or in OE's case, responsibility to their patients, especially the thousands of damaged ones!
An example of this is Cobra Beer, who sold to Coors immediately after they entered administration in 2009. The brand continued but left suppliers out of pocket by an estimated £75 million.
And this is legal