Shoosmiths set to advise on Modelzone administration
RESTRUCTURING and insolvency specialists at law firm Shoosmiths have been appointed to advise on the administration of the Modelzone Group of companies.
The group, which comprises Modelzone Holdings Ltd, The Amerang Group Ltd, Amerang Ltd and Modelzone Ltd, slipped into administration on Tuesday. It is thought the business could not meet its rent payments.
Modelzone is the UK’s largest model retailer and has a network of 47 stores across England, Scotland and Wales, including a 7,000sq ft ‘Mega Model’ store in Birmingham, its largest UK outlet. The company also has an outlet at the Merry Hill Shopping Centre.
The chain sells around 10,000 products, from radio controlled cars and Scalextric sets to collectible diecast models and construction kits.
Shoosmiths’ team comprises partner and national head of restructuring and insolvency James Keates, senior associate Aaron Harlow, and partner Emma Gibson.
Richard Hawes, Nicholas Edwards and Robert Harding, of Deloitte have been appointed as joint administrators.
Shoosmiths’ restructuring and insolvency team helped save jobs at leading online footwear retailer Cloggs (UK), earlier this year.
That and Modelzone adds to the firm’s growing retail insolvency experience, which includes advising the administrators of Jessops and working on deals involving Oddbins, HPJ Jewelers, Wine Cellar and Vergo Retail.
