Lawyers from Walker Morris have acted for Barratts Trading Limited on its acquisition of the majority of the Barratts and Priceless shoe chains from administrators.
The acquisition follows the appointment of administrators, Deloitte LLP, to the Barratts Priceless group of companies on 8 December 2011.
Barratts Trading Limited has acquired 89 Barratts and Priceless stores, together with the ecommerce business of Barratts Priceless Limited, from the administrators, Deloitte LLP. The new business will trade under the Barratts name. As a result of this deal, 1,184 jobs will be saved across UK, the Republic of Ireland and at the Bradford Head Office.
Chief Executive of Barratts Trading Limited, Michael Ziff, says: "I am delighted that we have been able to conclude this deal and save as many jobs as we have. The last few months have been very challenging but we have a great team in place."
A team of corporate, banking, property and insolvency lawyers from Walker Morris, led by head of corporate, John Hamer, and finance partner Peter Considine advised the buyers in a deal to save the well-known chain. Rachel Blake and Claire Askew of Walker Morris’ finance group led on insolvency aspects and partner Andrew Moodie led on property aspects.
The Walker Morris team comprised: John Hamer and Harry Singh (Corporate), Peter Considine, Rachel Blake, Claire Askew, David Tinkler and Ben Roden (Finance), and Andrew Moodie (Property).
