Shoosmiths helps save Cloggs jobs

Shoosmiths helps save Cloggs jobs


Author: Alastair Gray

A Shoosmiths restructuring and insolvency specialist has helped a leading online footwear retailer save jobs.

Senior associate Charles Williams advised administrators brought in to dispose of the business and assets of Cloggs (UK) Limited.

He worked with Begbies Traynor to help protect a significant number of jobs at the independent retailer, which has one high street outlet, in Birmingham's Bull Ring shopping centre.

It adds to the restructuring and insolvency team's growing retail experience. It is currently advising Jessops, and has worked on deals involving Oddbins, Wine Cellar and Vergo Retail.

Cloggs, which sells brands including UGG, Timberland and Converse, has been bought by leading trainer and sports fashion retailer JD Sports for an undisclosed sum.

Williams, who specialises in all aspects of non-contentious restructuring and insolvency, said: "When advising on a disposal in circumstances like this, it's always pleasing to be able to save jobs at the same time, which we were able to do here.

"Those being kept on include the current Cloggs management team."

Shoosmiths' team has experience across the full range of insolvency and restructuring issues, particularly supporting insolvency practitioners, banks and asset-based lenders.

Begbies Traynor is the UK's largest independent practice of corporate rescue and recovery specialists, with clients ranging from small businesses and SMEs to family-run companies and major multinationals.