Henri Lloyd rescued from administration

Henri lloyd has called in the administrators with the loss of dozens of jobs Henri lloyd has called in the administrators with the loss of dozens of jobs
Industry Database

Sailing and lifestyle clothing manufacturer and retailer Henri Lloyd has been saved from administration by a Swedish investment firm.

Aligro Group Ltd, which already owns the rights to the brand and trademarks, has closed a transaction with the administrator to obtain five stores, certain stock and other assets as a stepping stone to reviving the classic British fashion label.

The administrators - Chris Ratten and Jeremy Woodside of RSM Restructuring Advisory - said that as a result of the transaction, Aligro UK 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.

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

“The decision to appoint administrators was made due to challenging trading conditions on the high street," said Mr Ratten.

"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.

"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."

Henri Lloyd, based in Manchester, was founded in 1963 by Angus Lloyd and Henri Strzelecki and was a key driver in sailing clothing technology with products used by many racing teams including Land Rover BAR.

The firm counted Kate Middleton, Duchess of Cambridge among its clientele.

Latest Press Releases

FUSION® Entertainment to showcase state-of-the-art line-up at TheYachtMarket.com Southampton Boat Show 2018

14-23 September 2018 | Stand FO14 | FUSION® Entertainment is showcasing its latest range of world-l... Read more

FUSION Entertainment achieves ISO standard

FUSION®, a worldwide leader in marine entertainment, announces it now tests its speakers to the ISO1... Read more

WesCom Signal and Rescue shortlisted for the 2018 Safety at Sea Awards

The world’s leading supplier of marine distress signals, WesCom Signal and Rescue announces it has b... Read more

Torqeedo appoints Engines Plus Ltd as new UK canal boat sector dealer ahead of inland waterways festival, Crick Boat Show

Torqeedo has appointed Engines Plus Ltd, a leading engine dealer, to be the UK dealer for the canal ... Read more

Torqeedo Showcases Latest Innovations in Sustainable Marine Propulsion Technology at Seawork International

Crystal Lake, Ill. – May 23, 2018 – Torqeedo will demonstrate the latest developments in electric ma... Read more

View all