LG 'pre-pack' administration advice enables jobs to be saved at Nevada Bob UK
1 April 2009
Business law firm Lawrence Graham LLP (LG) has advised Nevada Bob (Europe) Limited on its purchase of certain parts of the business and assets of Nevada Bob (UK) Limited, which was in administration. The deal completed on 25 March 2009.
Nevada Bob's Golf is the biggest and most successful golf retail franchise in Europe. This transaction, which took the form of a 'pre-packed administration' saved a number of jobs and most of the stores.
LG Corporate Recovery partner Steven Cottee led the team, which included corporate recovery lawyer Robert Paterson and IP lawyer Harry Karaolou.
Steven said: "The transaction was undertaken with considerable speed and has resulted in the preservation of all employees' jobs. It will hopefully secure the future for the Nevada Bob brand in the UK and Europe and it also shows how the pre-pack administration can be a vital restructuring tool in certain situations."
Osborne Clarke acted for the administrators.
Notes to editors:
- Recognised as market leaders, LG's Corporate Recovery team provides advice on the full range of corporate recovery and restructuring assignments to banks, factors and discounters and financial institutions. We also work with under-performing businesses, UK insolvency practitioners, turnaround professionals, pension trustees and the Pension Protection Fund.
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