International Law firm Gowling WLG has advised A.F Blakemore & Son Ltd on its acquisition of the business of high street eatery chain Philpotts from the administrators of Philpotts Limited and Patisserie Valerie Group.
The firm's Restructuring and Insolvency team were instructed by A.F.Blakemore & Son Ltd to deliver the acquisition, completing the deal over a four day period.
Following the earlier sale of Patisserie Valerie, the Phillpotts deal will secure 23 stores or outlets, safeguarding over 200 jobs, adding to A.F Blakemore's existing retail and food service offering.
Gowling WLG Restructuring and Insolvency Partner Jasvir Jootla and Principal Associate Tom Stockley led a cross firm team on the deal, supported by Jas Pangli (Restructuring And Insolvency), Phil Clissitt (Real Estate) Joe Morris (Real Estate), Luke Kempton (IP), Tom Rank (Tax) Lee Nuttall (Tax) and Sally Mewies (Commercial and IT).
Partner Jasvir Jootla said: "We're delighted to have advised A.F Blakemore & Son to deliver the acquisition of Philpotts from its administrators marking a major milestone in the growth plans of the business. The firm's cross-sector team, led by a strong and specialist restructuring team are proud to have secured a positive outcome for all, supporting a longstanding and important client to enter a new phase of its development".
Group Finance Director at A.F. Blakemore & Son, Scott Munro-Morris, said: "The Gowling WLG team were focused throughout on helping us secure this acquisition. Their expertise in restructuring and distress, dealing with administrators and organising the right support from specialist teams was invaluable. Working to very tight timeframes, we have been impressed by the team's experience, support and the dedication shown to the end. We're thrilled to have secured the future of Philpotts, bringing the business into our established retail offering to support our strategic plans for growth."
Partner Ragi Singh praised the efforts of the Gowling WLG team: "The firm worked exceptionally hard to get this deal over the line, acting to a very tight deadline at short notice from the client. From initial instruction on Monday, to completion on Thursday, this latest advisory showcases our deep expertise, evidencing the firm's exceptional client-handling capabilities and sector-leading advisory work."
Gowling WLG's restructuring and insolvency team consists of dedicated specialists in complex, high-profile and confidential restructurings, advisory and insolvency work.
The specialist team includes a high level of expertise in multi-jurisdictional, cross-border insolvencies and restructurings and acts for boards of directors, all types of lenders, private equity and other funders, government and public bodies, sponsors, pension and other trustees, creditors, debtors, court appointed officers, interim lenders, insolvency practitioners, receivers and purchasers.