Appleby has acted in Jersey, Guernsey and the Isle of Man for the joint administrators of certain companies of the Arcadia Group, the retailer of fashion clothing and accessories selling through brands such as Burton Menswear, Dorothy Perkins, Wallis, Miss Selfridge and Topshop.
On behalf the joint administrators (each of Deloitte), the Appleby insolvency and restructuring teams in Jersey, Guernsey and the Isle of Man have obtained orders of recognition of the joint administrators’ appointment within two days of the administration orders being made in the UK.
The recognition of the joint administrators in the jurisdictions will enable them to continue to trade from the stores in those locations, while options are explored and the strategy of the administrations evolves.
Appleby is the only firm that offers restructuring and insolvency capability across all three Crown Dependencies.
In addition to procuring recognition of the joint administrators’ appointment, the Appleby teams also secured a moratorium in Jersey, Guernsey and the Isle of Man in substantively the same terms as the English law moratorium.
This will ensure continuity of trade and prevent disruptive action that may undermine the purpose of the wider administration.
Jared Dann, Partner, supported by Gemma Whale, Senior Associate, delivered Jersey legal advice; Anthony Williams, Partner, assisted by Andrew Murphy, Senior Associate, and Ryan Courtney, Associate, provided Guernsey legal advice; and Caren Pegg, Partner, supported by Kyle Mills, Associate, delivered Isle of Man legal advice.