Shearman & Sterling has hired a new London restructuring partner from Weil Gotshal & Manges, adding firepower to a practice that has recently seen several defections. The US firm has brought in partner Alexander Wood, who has spent seven years in Weil’s London office. He advises on restructuring and insolvency across financial services, having acted […]
Travel operator Fleetway has called in PwC as it fell into administration yesterday, with Eversheds Sutherland appointed to assist the Big Four giant. The company’s collapse was brought on by cash flow pressures amid Covid-19, a scenario many travel companies are also facing as fewer holidaymakers book overseas trips. Fleetway, which employs around 62 employees, […]
A team from Weil Gotshal & Manges is advising US clothing retailer Brooks Brothers as it files for Chapter 11 bankruptcy protection. The US firm has taken legal duties as the company officially started the proceedings in the United States Bankruptcy Court for the District of Delaware yesterday morning. Alongside the firm is Delaware-based Richards Layton […]
Every week of June a retailer has collapsed into administration, citing cash flow pressures exacerbated by Covid-19. The last week saw further collapses, including shirt maker TM Lewin and furniture store Harveys while Bensons for Beds was saved. Shoosmiths and Eversheds Sutherland picked up two mandates apiece; Shoosmiths led for the administrators on the TM Lewin […]
Fried Frank Harris Shriver & Jacobson, Eversheds Sutherland and Shoosmiths have been called up on the latest retail restructuring as Harveys falls into administration and Bensons for Beds is saved. Furniture store Harveys collapsed into administration yesterday while sister company Bensons for Beds has been bought by its former owner, turnaround firm Alteri Investors through […]
Walker Morris has been handed the mandate by the administrators seeking to save Wigan Athletic FC from insolvency. The firm’s head of sport David Hinchcliffe is on call as it seeks a buyer for the club. Three partners from Begbies Traynor have been appointed as the joint administrators. The Championship club has faced significant financial […]
Shoosmiths and TLT are acting opposite each other on another retail rescue, as TM Lewin is bought back by its owner through a pre-pack administration. Shoosmths restructuring partner Aaron Harlow is acting for administrators ReSolve, alongside partner Lee Sennett and senior associate Charlotte Doyle. The 122-year-old Jermyn Street shirtmaker went into administration yesterday (30 June) […]
Addleshaw Goddard and TLT have acted on JD Sport’s £56.5m acquisition of Go Outdoors. JD Sports appointed Deloitte as administrators last week before swiftly buying back its Go Outdoors brand as part of a pre-pack deal on Tuesday (23 June). A Manchester-based Addleshaws team acted for JD Sports, led by restructuring partner Tim Taylor and […]
Kirkland & Ellis is acting for Travelodge on its company voluntary arrangement (CVA) as it strives to cut its rent and end a dispute with its landlords. Restructuring partners Kon Asimacopoulos and Elaine Nolan, as well as and litigation partner Richard Boynton are taking the lead for Travelodge. The Goldman Sachs-backed hotel operator runs a […]
Latham & Watkins has hired a new restructuring partner from Willkie Farr & Gallagher to boost its Paris office. The US firm has reined in partner Alexandra Bigot, who has spent almost her entire career in the French office of the rival firm. There, she specialised on restructuring matters on behalf of debtors, hedge funds […]
TLT and Shoosmiths have acted on Boohoo’s £5m cash acquisition of Oasis and Warehouse. TLT restructuring and insolvency partner Peter Carney led for online fashion chain Boohoo, alongside commercial partner Pauline Cowie and corporate M&A partner Alice Gardner. Shoosmiths national head of corporate restructuring and advisory James Keates, partner Lemi McAuley and associate Lucy Sanderson […]
“To be a good restructuring lawyer, you need excellent judgement and an ability to stay calm and reassuring when under intense pressure.”