Walkers advises on retailer restructure

Posted: 26/11/2020

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."   


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