Collas Crill’s Jersey office has assisted FRP’s UK Restructuring Advisory team as part of the sale of the Debenhams brand and assets by advising on the creditors’ winding up of two connected Jersey companies.
The £55 million cash deal facilitated by FRP as the administrators of Debenhams sees boohoo group plc acquire the global rights to Debenhams brands and its websites on completion of the transfer, ultimately securing the future of the brand in the UK.
The Collas Crill team was made up of Group Partners Simon Hurry and Mike Williams, who head up the firm’s insolvency and restructuring practice in Jersey, and Associate Caitlin Bruce.
Simon Hurry said: ‘It has been a privilege and a pleasure working with a thought leader practice like FRP. It’s also great to see Jersey’s progressive insolvency and restructuring framework supporting and accommodating high value cross-jurisdictional matters.’
Chris Stevens, Partner in FRP’s Restructuring and Advisory practice said: ‘It has been a pleasure to work with Simon and the team at Collas Crill. The service was professional and efficient and we look forward to working with them on other matters.’