The corporate restructuring and advisory (CR&A) team at UK law firm Shoosmiths has acted for administrators PwC in the pre-pack sale of popular high street retailer Bensons for Beds.
Bensons for Beds, which operates 243 shops, has been bought by its former owner, turnaround firm Alteri Investors, saving nearly 2,000 jobs.
Alteri has said it would invest £25m of fresh funding into the retailer to revive its fortunes.
The Shoosmiths CR&A legal team was led by partners Lemi McAuley and Lee Sennett, with support from national CR&A head James Keates, associate Louise Snipe and Aaron Luxton.
Lemi said: “In only the past 24 hours, the high street and retail landscape has continued to see a number of significant developments, so we are pleased to have worked closely with the team at PwC on securing the future of another famous UK brand and retailer.”
It was the second completion of the day for Shoosmiths’ award-winning CR&A team having earlier advised administrators, ReSolve, on the sale of menswear retailer T.M. Lewin.
Shoosmiths’ CR&A team has worked on a number of high-profile retail administrations in recent weeks, including Oasis and Warehouse, Monsoon Accessorize, Oddbins, Cath Kidston and Axminster Carpets.