Walkers has acted alongside Allen & Overy on the consensual financial restructuring of New Look, a UK multi-channel fashion retailer with more than 500 stores across the UK and Ireland.
The multi-faceted restructuring included Walkers advising on the Jersey law aspects of an extension of the group's working capital facilities in order to ensure it has no near-term debt maturities.
The Walkers Jersey team comprised Group Partner Jon Le Rossignol, Senior Counsel Louise Hamilton and Legal Assistant Matt Tout.
Jon Le Rossignol said: "The distressed environment we are currently witnessing is pan-sector but the impact is being particularly felt in retail, where offshore entities are a constant.
"Jersey corporates often sit as obligors in highly complex capital structures in the retail sector, particularly where these businesses have been through at least one round of restructuring previously."