Business Turnaround and Reconstruction
From time to time even the best run companies may find themselves in financial difficulty. We act for companies, directors, funders and turnaround professionals to ensure business survival. Often adopting a multi-disciplinary approach that draws expertise from across the firm including corporate, real estate, dispute resolution, employment and tax.
Examples of our work include acting:
- in the acquisition of the UK business and assets of Blockbusters from administrators and the simultaneous negotiation of an IP licence with Blockbuster US. The initial deal saw the rescue of 264 stores and over 2000 jobs
- for the administrators and liquidator of eight group companies in the restructuring of the half billion pound property investment portfolio (over 3000 multi-let industrial units comprising of 14.6m sq ft) which saw the transfer of its asset management arm through a pre-pack administration sale
- for the owners of a chain of eight hotels where the leaseholder, who was managing the hotels, went into administration, which in turn led to the transfer of the hotel operating business to an unapproved company. Liaising with the administrators to ensure that the business and assets of the hotel were transferred to an operator elected by our client
- for a syndicate of investors in the restructuring and disposal of its investment in the Chatham Maritime Development, comprising of a cinema complex, restaurants and the Dickens World tourist attraction. Liaising with liquidators in regards to the insolvent tourist attraction
- for the administrators in their appointment over South East England Inveco truck dealer and service centre, Grays Truck & Van, and then the disposal of the company’s property interests over four sites, following the transfer of its business and assets in a pre-pack sale to Inveco (part of the Fiat Group)
- for the majority stakeholders of a distressed specialist retailer, operating from 14 warehouse stores in the South East, in the purchase of its business and assets from an administrator.