Restructuring & Insolvency

We acted for Peak Analysis and Automation Limited (PAA) in obtaining validation and administration orders. PAA specialised in industrial automation solutions for life sciences clients, including Moderna, Genmab and BioNTech, and was the sole shareholder of US-based robot manufacturer Peak Robotics Inc (PRI).

Following the administration, we advised the joint administrators on the sale of PAA’s business and selected assets, including the PRI shareholding, to Grenova Inc, a US company backed by Peloton Capital Management. We continue to support the transfer of a Netherlands-based subsidiary and the sale of remaining business interests. The transaction secured the transfer of many employees and delivered substantial value for creditors.

We acted for the Joint Liquidators of Staffordshire Waste Recycling Centre Limited in connection with the sale of certain business assets. Based in Stoke-on-Trent, the company provided waste management services and held fixed assets valued at approximately £9.2 million.

Ahead of the liquidation, we advised on the sale of the business and selected assets for consideration of up to £3.75 million, subject to contractual milestones. The matter required extensive engagement with the Environment Agency regarding environmental permit breaches and potential liabilities.

We continue to advise on the realisation of a valuable shareholding connected to land worth several million pounds for the benefit of creditors.

We acted for the Joint Administrators of Cleverchefs Ltd in relation to the sale of the company’s business and assets. Cardiff-based Cleverchefs is an established catering provider with a most recent turnover of £15.3 million.

Ahead of the administration, we advised on the sale process and prepared the documentation required to complete the transaction. This resulted in the sale of the business to Cleverchefs Catering Limited, a company owned by local competitor HSG FM Group.

We are proud to have supported a transaction that secured the Cleverchefs brand and safeguarded approximately 300 jobs that were at risk following the company’s insolvency.

This ongoing bankruptcy involved a number of elements and claims against several individuals spanning a number of years. The final and principal matter was obtaining a possession and sale order over a property in Spain in which the bankrupt held an interest.

Freeths acted on behalf of the Trustees in Bankruptcy, overcoming a number of hurdles in obtaining the possession and sale order, securing vacant possession, and managing the advertising and sale of the property, which was not without its difficulties.

The sale of the property was successfully completed in August last year with the assistance of solicitors in Spain.

We advised Kris Wigfield, Julian Pitts and Paul Stanley of Begbies Traynor (Central) LLP, acting as Joint Administrators of Sheffield Wednesday Football Club Limited (SWFC) and Sheffield 3 Limited (S3), both in administration.

Founded in 1867, Sheffield Wednesday is one of England’s oldest professional football clubs. SWFC operates as the club’s trading entity, while S3 owns the Hillsborough stadium.

Since their appointment, we have advised the Administrators on several critical and highly confidential matters relating to the administration, continued operation of the football club and the proposed sale of the club in accordance with EFL policies, helping maintain financial stability throughout.

Freeths advised QUIZ Plc and its subsidiaries on the appointment of joint administrators to Zandra Retail Limited and the pre-pack acquisition of the business and certain assets by Orion Retail Limited, a subsidiary of the QUIZ Group.

The transaction secured the rescue of the business and brand, preserving the majority of stores and jobs. Freeths' Restructuring & Insolvency, Banking, Real Estate and Employment teams worked closely together, advising on the pre-pack sale strategy and refinance.

Despite creditor and media pressure, we acted swiftly to complete the transaction, secure the future of the brand and protect as many jobs as possible.

We acted for AWS Education Ltd, part of the Affinity Workforce Solutions Group, on its acquisition of the business and assets of Protocol National Limited out of administration by way of a pre-pack sale.

Protocol is a long-established recruitment partner to the Further Education, Higher Education, Training Provider and Prison Education sectors. The transaction preserved 68 jobs and brought the Protocol FE, Bookmark and eSafeguarding brands into the AWS group, supporting around 30,000 candidates placed into the education sector.

Freeths’ Restructuring team led the transaction, supported by our Intellectual Property and Employment teams, advising on the acquisition, brand transfer and TUPE process.

We advised Black Sheep Brewing Company Ltd on the acquisition of certain assets of Magic Rock Brewing Company Ltd (in administration), adding the Magic Rock brand to the Keystone Brewing Group’s portfolio of craft beer brands. Black Sheep Brewing is an independent Yorkshire brewery with more than 32 years of heritage.

We played a central role in the transaction, advising on the acquisition of stock, duty provisions and occupation arrangements through a Licence to Occupy.

We also protected the Magic Rock brand through IP sub-licences, advised on employee transfers and prepared settlement and consultancy agreements, helping deliver a smooth transaction within a challenging timeframe.

We acted for the Liquidator of Beech’s Fine Chocolates Limited, a 105-year-old confectionery manufacturer that entered creditors’ voluntary liquidation following unsustainable increases in operating costs.

Our role focused on identifying and realising value in the company’s brand and intellectual property, which held significantly greater commercial value than the remaining physical assets.

We advised on and oversaw the marketing and sale process for the brand and associated IP, resulting in a successful sale to Bulk Gourmet Emporium Limited. The transaction preserved Beech’s long-established name and heritage while maximising value for the liquidation estate.

We advised the Neos Hospitality Group on the acquisition of the business and certain assets of the Revolution and Revolución de Cuba bar chains from the administrators of The Revel Collective Plc and its subsidiaries.

The transaction was structured as a pre-pack administration and completed alongside the sale of the Peach Pubs business to a separate buyer, requiring a flexible approach to changing deadlines.

We advised on the business sale agreement, transfer of intellectual property and transitional services arrangements. We also advised on employee allocation, and IT and HR transition issues, helping to ensure continuity of services and a smooth transfer of the business.

We advised GB Bank Limited and RSM UK Restructuring Advisory LLP in relation to a default under a real estate finance facility for a residential apartment development. Following a review of GB’s security position and enforcement options, we recommended the appointment of administrators to stabilise a complex situation involving multiple investor creditors.

Working closely with GB and the administrators, we assessed options for the companies and property before supporting a successful restructuring proposal under which creditors were paid in full and control returned to management.

We also advised on stakeholder negotiations, settlement documentation, court applications and ongoing funding arrangements.