Squire Sanders takes Barratts and Past Times administration double
Squire Sanders has taken two high-profile administration roles after Barratts and Past Times became the latest casualties to hit the high street. The newly rebranded firm advised administrators Deloitte on the Barratts collapse, fielding a team led by Leeds head of restructuring and insolvency John Alderton.
January 18, 2012 at 06:37 AM
2 minute read
Squire Sanders has taken two high-profile administration roles after Barratts and Past Times became the latest casualties to hit the high street.
The newly rebranded firm advised administrators Deloitte on the Barratts collapse, fielding a team led by Leeds head of restructuring and insolvency John Alderton.
Yorkshire firm Walker Morris acted for Barratts Trading, which has acquired the majority of the struggling Barratts and Priceless chains from Deloitte after they were appointed on 8 December last year.
Corporate head John Hamer led the firm's team, supported by a seven-strong team of lawyers including finance partner Peter Considine.
The deal handed Barratts Trading 89 stores as well as the Barratts Priceless e-commerce business, saving 1,184 jobs across the UK and Ireland. The new business will operate under the Barratts name.
This is the second time Barratts and Priceless have entered administration, following the collapse of former owner the Stylo group in early 2009, a deal which saw Walker Morris, Addleshaw Goddard and Berwin Leighton Paisner take advisory roles.
Separately, Squire Sanders is also acting for KPMG on the administration of gift retailer Past Times, with Alderton again fronting the firm's team alongside partner Laura Crawford.
Prior to KPMG's appointment as administrator on 16 January, Past Times closed 46 stores and planned to close 72 temporary outlets, resulting in the loss of 507 jobs.
KPMG will now take over the management of 51 stores and 500 employees with a view to a going concern sale, or a wind-down of the business in the event that a sale is not possible.
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