Henri Lloyd brand saved but 130 jobs are axed as shops close

Henri Lloyd

A deal which will see the Henri Lloyd brand saved but 128 jobs axed has been agreed by administrators.

The Manchester based firm was forced to call in the administrators last week as a result of the slump on the high street.

Five stores and some of the stock and assets of the firm, which specialises in waterproof clothing, have been sold.

However the headquarters of the firm in Manchester has closed along with 20 concessions in House of Fraser stores and branches in Falmouth, Truro, Street and Swindon.

The stores and stock and assets have been sold to Aligro UK Ltd.

The sale means Aligro will continue to trade the Henri Lloyd brand in stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington.

The move means 38 store and six head office jobs have been saved.

Henri Lloyd was launched in Manchester in 1963 and was a firm favourite of Kate Middleton.

Chris Ratten and Jeremy Woodside of RSM Restructuring Advisory were appointed joint administrators of Henri Lloyd.

Chris Ratten said: “We are pleased to have secured the sale of certain stores and assets to Aligro UK Limited.

“This sale represents the best outcome for creditors, it maintains Henri Lloyd’s presence in key locations and secures 44 jobs.

“Selling the whole business as a going concern was not a viable option and regrettably a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.”

Taylors Corporate Restructuring team in Manchester advised Aligro UK.

Andrew Livesey, corporate re-structuring partner and head of Taylors Manchester office, said: “We are pleased to have been able to assist Aligro UK in the acquisition of the Henri Lloyd brand and its retail division.

“The deal represents the best outcome which could be achieved in the circumstances and ensures that a great British brand will continue in existence and go from strength to strength.”

Livesey was supported by Partner Stuart Beatson, Associate Matthew Catterall and Assistant Solicitor Rebecca Daniels.

Close