We are highly experienced in assisting owner managed businesses, corporate groups, investors and the directors of companies facing financial difficulty in devising a plan of reconstruction to ensure the rescue of the business operations, the saving of jobs and the preservation of value for the owners. In all likelihood business reconstruction and turnaround is likely to entail changes to the workforce and we are adept at providing advice on the options available to both employer and employee.
Examples of our recent work include:
- advising 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 hotel were transferred to an operator elected by our client, which included the TUPE transfer of the hotel staff.
- advising the administrators of Prince Sports Europe, a leading racquet sport retailer, in the rescue of its business. This pan-European case involved co-ordination of legal processes as they affected the staff of the business across six jurisdictions.
- advising 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 and the TUPE transfer of all staff.
- advising an administrator in regards to employment issues arising during the continuation of trade for a four year period at a number of care homes across the UK.
- advising the Board of the UK’s leading cosmetic surgery provider concerning the PIP breast implant scandal and the financial difficulties that this caused the business. This led to the planning and implementation of a restructuring programme and the rescue of the business.