The corporate restructuring and advisory team at UK law firm Shoosmiths has advised its client Hilco on the sale of Oasis and Warehouse to online retailer Boohoo.
The team has worked on a number of high-profile retail administrations in recent weeks including Monsoon Accessorize, Oddbins, Cath Kidston and Axminster Carpets.
Shoosmiths’ team was led by national head of CR&A James Keates, alongside partner Lemi McAuley and associate Lucy Sanderson, with support from corporate partner Andrew Millar and senior associate Leah Cairney, and IP principal associate Emma Tuck.
James said: “We have seen and will continue to see a number of high street retailers changing hands recently, as many look to restructure their business to fit with the modern ways in which customers now like to shop.
“There’s no doubt that the challenging high street environment, which existed before COVID-19, will continue despite news that many retailers have once again opened for business. However, the Boohoo acquisition of Oasis and Warehouse shows that investment in online retail is likely to continue to be the area in which retailers will invest and look to grow. We are really pleased to be part of the work that has ensure that these brands have been protected.”
Oasis and Warehouse went into administration in April, and Hilco bought both the brands and stock.