Update: Brantano (UK) Limited (the “company”) sale

Published at 16:26 PM on 15 February 2016

Tony Barrell, Mike Jervis and Rob Hunt of PwC were appointed joint administrators of Brantano (UK) Limited on 21 January 2016.

Following their appointment, the Administrators have continued to trade the business whilst undertaking a sales process amongst interested parties. Having now completed this process, the majority of the business has been sold to a company controlled by Alteri Investors, preserving 1,372 jobs and 140 stores and concessions.

58 stores and concessions have not been included in the Alteri acquisition and the Administrators continue to trade these stores whilst dialogue continues with interested parties.

Robert Moran, deals partner at PwC, who led the sales process, said:

“From discussions held over the last few weeks, there was interest from a number of parties, both trade and private equity, for the Brantano business. Of this interest, the offer from Alteri represents the best outcome for creditors and employees. We are delighted that 1,372 jobs have been preserved through the transaction and thank the Brantano team for working closely and collaboratively with us throughout what has been a difficult period for the business.”

Tony Barrell, lead administrator said.

"We continue to trade the remaining Brantano business whilst discussions with interested parties continue. Unfortunately, in the event further sales are not possible, redundancies will become inevitable. We are working closely with Brantano employees and offering every support possible through this difficult period.”
 

Ends

Notes to editors:

For specific questions on Alteri, please contact either:

Greg Lawless/Tom Eckersley from Maitland Communications Consultancy on 020 7379 5151

Anthony Steven Barrell, Michael John Andrew Jervis and Robert Jonathan Hunt were appointed as Joint Administrators of Brantano (UK) Limited on 21 January 2016 to manage its affairs, business and property as its agents and without personal liability. Anthony Steven Barrell, Michael John Andrew Jervis and Robert Jonathan Hunt are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.  

About PwC

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PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2016 PwC. All rights reserved

Gill Carson media relations, PwC

Tel: 020 7212 1391 Mobile: 07837 285466

Email: [email protected]

Ellie Raven, media relations, PwC

Tel: 020 7804 3663 Mobile: 07525 925830

Email: [email protected]


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About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved

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