Henri Lloyd goes into administration

(June 11, 2018) – British sailing clothing brand Henri Lloyd has become the latest retailer to appoint administrators, citing “challenging trading conditions on the high street.”

Established in Manchester in 1963, Henri-Lloyd Limited specialises in branded clothing within the sailing and lifestyle market. The company trades from seven UK retail outlets and 20 concessions within House of Fraser.

Chris Ratten and Jeremy Woodside of RSM Restructuring Advisory LLP were appointed joint administrators of Henri-Lloyd Limited last week.

In a statement today, the firm said it has 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 will continue 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.

However, 128 other staff in the Henri-Lloyd headquarters in Manchester, in 20 House of Fraser concessions and in four closed stores in Falmouth, Truro, Street and Swindon have all been made redundant.

“We are pleased to have secured the sale of certain stores and assets to Aligro UK Limited. This sale represents the best outcome for creditors, it maintains Henri-Lloyd’s presence in key locations and secures 44 jobs,” said Ratten.

“Selling the whole business as a going concern was not a viable option and regrettably a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.”

Source: www.just-style.com