Burges Salmon advises PwC as joint administrators of tReds on rescue sale to New Gray Ltd

The firm’s Corporate Restructuring team advised on the deal, which saved over 150 jobs across the UK shoe retailer’s 21 stores

15 February 2019

Burges Salmon’s Corporate Restructuring and Insolvency team has advised PwC as joint administrators on the sale of tReds, a UK footwear and fashion retailer that went into administration in late January.

The deal was completed within an extremely tight timeframe, with just 4 days between instruction and completion.

Weymouth-headquartered tReds employs 159 people across its 21 shop locations and online store, which continued trading during the period prior to the sale.

The Burges Salmon team was led by Andrew Eaton, head of the firm’s Corporate Restructuring and Insolvency team.

Andrew says: “We’re very pleased to have helped PwC as joint administrators complete this transaction, which results in the preservation of jobs and hopefully returning growth to the business. We wish the new owners and management every success in their new venture.”

Ross Connock, PwC director and joint administrator, says: “Andrew and his team delivered on a tight timeline to get the transaction done.”

Andrew was assisted by associate Nick Middleton, solicitor Katherine King and head of the firm’s Real Estate Restructuring team, Colin Ligman.

Key contact

Andrew Eaton

Andrew Eaton Partner

  • Head of Corporate Restructuring and Insolvency
  • Banking
  • Corporate

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