A multi-disciplinary and cross-jurisdictional team from TLT has advised administrators on the sale of UK outdoors retailer Go Outdoors to JD Newco 1 Limited, a newly-incorporated subsidiary of JD Sports Fashion plc.
TLT gave strategic advice to Deloitte and the directors of Go Outdoors and supported them on the end-to-end transaction. The deal ensures the continued operation of the business and its assets, which includes 67 stores and a workforce of more than 2,000 employees.
The TLT team encompassed a wide range of expertise, including banking and restructuring, real estate, employment, corporate, commercial and tax in England & Wales, Scotland and Northern Ireland. The team was led by partner Alastair Lomax alongside legal director Tom Ward.
Alastair Lomax, partner at TLT, says: “This is a period of untold uncertainty in the retail sector and we are pleased to have supported a transaction which preserves so many jobs and puts the Go business in such a strong position at such a critical time.
“This is a signature restructuring and we will no doubt see a further reshaping of the market as other businesses in the sector take action in response to the unfolding impact of the pandemic.”