TLT advises on sale of retailer Tony Pryce Sports

08 April 2011

National law firm TLT has advised administrators Graham Randall and Mark Roach of BDO LLP on the sale of Tony Pryce Sports to Mantra Brands, a subsidiary of H Young Group. The major sports retailer has sales of £20million and trades from 34 locations across the South West and South Wales. It also operates under several brands including Tony Pryce Sports, Wipeout and Edge and trades a number of stores under licence from Animal.

TLT was appointed to provide legal advice to the administrators on a number of pre-appointment issues and then on the administration and sale of the sports retailer.

The deal was led by Corporate Recovery and Insolvency partner, Peter Carney and involved further specialists in corporate and property teams across the firm.

TLT's Peter Carney says, "The sale of Tony Pryce Sports, which involved multiple sites and brands, was completed in a very tight timescale with the swift completion preserving a significant number of jobs in the South West and, it is hoped, providing a significant return to unsecured creditors."

TLT is known in the South West for its strong focus on corporate recovery and insolvency work and has a growing reputation in this sector across London and the South East. The firm has a strong focus on the retail sector and advises some of the UK’s leading retailers, including The Co-operative Group and The Peacock Group. The firm has recently acted on WHSmith's purchase of British Bookshops and Stationers Ltd and the administration and sale of leading milkshake retail brand Shakeaway.

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