Our client specialises in the sale & distribution of innovative global menswear and womenswear fashion labels. They source brands from around the world, always with an eye to the unique point of differences that will appeal to their retail clients and enable each brand to compete successfully on the High Street and online. Currently their client brands are stocked across more than 600 UK and Irish retailers.
We first acted for this client over 10 years ago, putting a funding package together that enabled the founders to deliver on their growth plans. A few years ago we were invited back in, due to our client’s principal bankers seemed to want out of the relationship and indeed the whole sector.
As often has been the story in the past year, this business became top heavy with bank debt and HMRC arrears post Covid and was recommended to take advice from a re-structuring group. After much agonising over closing a business the two founders had grown from inception, a decision was made to go through a formal process and start Newco. Smaller, leaner and free of historic liabilities we were able to put a new debt package together that enables the business to trade and grow.
Our colleague Sean Comments:
“It was a pleasure to help the founders once again with their funding needs. There has always been a great underlying business and we are pleased to have played our part in helping re-establish them in the marketplace”
