Short-term receivership
As BoatIndustry had announced, seawear producer Henri Lloyd was placed in receivership on 8 June 2018. The directors Chris Ratten and Jeremy Woodside of RSM Restructuring Advisory LLP, appointed on this occasion, announced on June 11 at the end of the day that they had found a buyer for part of the business. Aligro UK, a subsidiary of the Aligro group, a Swedish investor who arrived at Henri Lloyd's bedside in March 2018 by buying the rights to the brand name and becoming a creditor, was chosen by the specialist firm.
Partial takeover
The new owner has completed the purchase of 5 shops and part of the stock. Henri Lloyd's stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington will remain open. The 38 store employees saw their jobs saved, as well as 6 members of the head office. On the other hand, the company's 128 other employees will have to be reclassified.
Administrator Chris Ratten is pleased to have been able to save part of the job. "We are pleased to have secured the sale of some stores and assets to Aligro UK. This sale represents the best outcome for creditors. It maintains Henri Lloyd's presence in key locations and secures 44 jobs. Selling the entire company as is was not a solution."
Closing of the French office
Henri Lloyd had an office in France. Contacted by BoatIndustry, Florian Le Duigou, a brand employee in France, confirmed the closure of the site.
