Baker McKenzie and Mayer Brown have helped secure a rescue deal for Paperchase after the business suffered severe disruptions from Covid-19 lockdowns. Following the appointment of administrators from PwC on 28 January, the stationery chain has been sold in a pre-pack administration to Permira Debt Managers. Bakers’ banking and finance partner Geoff O’Dea has taken […]
Freshfields Bruckhaus Deringer is advising Debenhams’ administrator FRP Advisory as Boohoo snaps up the department store’s brand. The deal does not include any of Debenhams’ remaining 118 High Street stores or its workforce, meaning that up to 12,000 jobs at the department store chain are set to go. Freshfields global restructuring and insolvency head Ken Baird […]
Fried Frank Harris Shriver & Jacobson has hired its second restructuring specialist in the City, as firms look to bulk up amid a wave of deal opportunities. The London outpost of the US firm has hired partner Mandip Englund, who has spent almost two years at Reed Smith. Starting in late February, she will work […]
McDermott Will & Emery is building up its City restructuring practice with the hire of Proskauer’s European restructuring head. Mark Fennessy joins McDermott as head of restructuring in London with fellow restructuring lawyer Sunay Radia, who joins as a partner. Fennessy spent eight years at Proskauer where he specialised in all areas of contentious and […]
Stewarts is set to file a claim against AA, after a dispute was waged over an investment deal in a automotive start-up. Motoriety, which was founded by Lucy Burnford and Oliver Astley, is alleging that AA delayed its launch after the roadside assistance operator attempted to invest in the company. In 2015, Burnford, Astley and […]
Shoosmiths and Bird & Bird have acted on the sale of English fashion brand Jaeger to Marks & Spencer. M&S has snapped up the retailer from administrators FRP Advisory, which instructed Shoosmiths restructuring and insolvency partner Lee Sennett, legal director Charlotte Duce and solicitor Aaron Luxton. Head of Bird & Bird’s international capital markets practice […]
Browne Jacobson is among the firms drafted in on the expected administration of Paperchase, as high street retail carnage continues into the New Year. The stationery chain has filed a notice to appoint administrators from PwC, instructing Browne Jacobson’s head of insolvency and dispute resolution John Adams and corporate finance partner Roger Birchall. It is understood […]
A judge has thrown out Clyde & Co’s attempt to delay filing its defences in a dispute with a now insolvent property company, stating the firm is “hiding behind the skirts of privilege”. The case, which was filed in 2015, is brought by Rhino Enterprises Properties Limited (REPL) and Askwith Investments Limited (AIL). They allege […]
Freshfields Bruckhaus Deringer and Kirkland & Ellis are continuing to advise Debenhams and its lenders, in another torrid day for the UK’s High Street retailers. Freshfields global restructuring and insolvency head Ken Baird is the lead partner advising Debenhams alongside partner Lindsay Hingston, with Craig Montgomery leading on the litigation side. Debenhams is now set […]
Update: Deloitte was appointed as administrators on Monday evening, with Freshfields and Brown Rudnick both set to advise on the next steps. Arcadia has declined a £50m lifeline loan from Frasers Group, as Philip Green’s retail empire – advised by Freshfields Bruckhaus Deringer – continues crunch talks over its future. Freshfields’ restructuring partners Neil Golding […]
Sidley Austin has lost a longtime restructuring partner from its City ranks, nearly two months after it witnessed the departure of a sizeable private equity team. Partner Phillip Taylor is due to be joining the London office of Alston & Bird, The Lawyer understands, though no comment was provided by either firm after multiple requests. […]
Linklaters is acting for Caffè Nero on the launch of its company voluntary arrangement (CVA). The coffee house chain has become the latest high-profile business casualty of the Covid-19 pandemic and has appointed KPMG as administrators. Linklaters restructuring and insolvency partner Richard Hodgson is leading for Caffè Nero, alongside managing associate Damien Gomez. The chain […]