InsightsNews - Commercial Law, Corporate, Banking and Finance, Employment & HR - POSTED: July 7 2020
Brachers advises on sale of The Roberto Group to Colour Wovens Limited
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Brachers has acted on behalf of Colour Wovens Limited on its purchase of the business and assets of The Roberto Group Limited, rescuing it from administration.
The Roberto Group designs and supplies ties, scarves and menswear to retailers throughout the UK and Ireland, and supplies ties and scarves for corporate, clubs and school uniforms. The Roberto Group has several niche brands under its umbrella, including the L A Smith menswear brand that was established in 1857.
The transaction was turned around in record time, with eight days from start to finish. The deal was led by Brachers Corporate Partner Claire Williams and supported by Employment Partner Colin Smith and Commercial Property Partner Ash Jilani. Tilly Clarke from Outset Group Legal Services acted for the administrators.
Four staff members’ positions were saved by Colour Wovens rescuing the business.
“We know that times are difficult for many businesses and unfortunately many companies have suffered as part of this. It’s reassuring to be able to help such a historic and much-loved brand such as The Roberto Group find a new home with Colour Wovens, especially in such a short turnaround time. We wish the group the best of luck,” Claire said.
Colour Wovens Managing Director, Neill Cotton, added: “Making a purchase during lockdown was made easier by having such a great team on hand at Brachers. We are excited to have The Roberto Group’s business as part of Colour Wovens and look forward to continuing the strong tradition of the brands it manages.”
This is just one of several deals that Brachers has completed during lockdown. Last month it was announced that Brachers advised shareholders on the sale of JIB Insurance Brokers Limited to Ethos Broking.
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