Henri Lloyd rescued from administration
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
Shakespeare® Marine, world leader in marine antenna design, announces it is launching the, the world... Read more
Since its launch just over two years ago, Fairline Yachts has been winning awards for its new models... Read more
Leaders in waterproof bags and cases, OverBoard, prove that functionality doesn’t have to be boring ... Read more
Luxury British motor yacht manufacturer, Fairline Yachts, was announced as the winner of a highly pr... Read more