Taylors assist Aligro UK in acquiring iconic brand Henri LloydWith assistance from Taylors Corporate Restructuring team, Henri Lloyd the iconic brand of sailing and leisure wear will continue to trade.
Henri Lloyd was established in Manchester in 1963 and went into administration on 11 June 2018. The company operated a number of retail shops and outlet stores, as well as 20 concessions in struggling retailer House of Fraser stores nationwide.
In recent years Henri Lloyd had faced difficult trading conditions on the high street as well as competition from emerging brands. Taylors client Aligro Group Limited acquired the Henri Lloyd brand earlier this year.In May 2018 Aligro backed by a Swedish investor completed a rescue funding package as a prelude to a longer term re-structure plan. However the company was unable to trade out of its difficulties and entered administration in order to salvage the viable part of the business and to protect the brand.
Following the appointment of administrators Aligro UK Limited completed the acquisition of five retail locations at Salcombe, Dartmouth, Cowes, Lymmington and Cheshire Oaks. The transaction secures the presence of the Henri Lloyd brand in key locations and secures 44 jobs. Aligro is now committed to taking the brand to new heights with a global presence.Andrew Livesey, corporate re-structuring partner and head of Taylors Manchester Office who lead the Taylor’s team said “We are pleased to have been able to assist Aligro UK in the acquisition of the Henri Lloyd brand and it's retail division. The deal represents the best outcome which could be achieved in the circumstances and ensures that a great British brand will continue in existence and go from strength to strength.”
Andrew was assisted by partner Stuart Beatson, associate Matthew Catterall and assistant Solicitor Rebecca Daniels.
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