SIA Group supports RSM Restructuring Advisory LLP in ensuring Henri-Lloyd is bought out of administration
SIA Group provided valuation support to the administrators through the process of identifying the correct strategy following administration.
Established in Manchester in 1963, Henri-Lloyd Limited is a retailer and manufacturer that specialises in branded clothing within the sailing and lifestyle market. The Company traded from seven UK retail outlets and 20 concessions within House of Fraser. The company was forced to enter administration as a result of challenging trading conditions on the high street.
“(SIA’s) highly efficient and effective service has helped recover value for the benefit of the company creditors.”
Administrators completed the sale of five stores and certain stock and assets to Aligro UK Limited, a subsidiary of Aligro Group Limited.
As a result of the transaction, Aligro UK Limited continues to trade the Henri-Lloyd stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington, securing the jobs of 38 store staff and six head office employees.
Chris Ratten, Partner, RSM Restructuring Advisory LLP, said: “We engaged with SIA during the advisory stage of the job whilst we were exploring and understanding options for the company. SIA were responsive in providing valuations on the inventory and assets which assisted us in developing our strategy. On the implementation of the assignment SIA were part of the team providing support to my colleagues in attending the multiple store locations/concessions to secure and safeguard assets & manage the repatriation of stock back to the central warehouse in Manchester. Their highly efficient and effective service has helped recover value for the benefit of the company creditors.”
Mark Driscoll, Head of Manchester Office at SIA Group, said: “We were delighted to support the administrators in defining and creating a highly successful outcome. This is a superb example of how our swift and hands on approach, coupled with extensive asset and sector knowledge, enabled us to support time critical and deeply informed decision making.”