Squire Sanders has advised JD Sports Fashion Plc on the acquisition of the business and assets of Cloggs (UK) Limited from its administrators for an undisclosed sum.
Cloggs is an online retailer of branded footwear based in Birmingham. It sells brands including Dr Martens, Fitflop, Converse, Vans and Hunter. The business will continue to be based in Birmingham and the current management team is being retained.
Peter Cowgill, Executive Chairman of JD, said: “We are very pleased to be supporting Cloggs. Its branded casual footwear offer includes many leading and famous brands and we look forward to investing in the development of the website and working with the brands to extend its offer.”
The Squire Sanders team advising JD Sports was led by restructuring & insolvency partner, Stephen George, assisted by Geoff Perry (corporate), Ramez Moussa (labour & employment) and Roy Grist (banking).
During the course of the last three weeks the Squire Sanders restructuring & insolvency team has played a leading role in three significant rescue deals involving companies in administration, which have saved the jobs of over 500 people.
These deals included the buyout of Leeds-based civil engineering firm Hewlett and Manchester automotive parts business Klarius. Partner Susan Kelly from the firm’s Manchester office, provided legal advice to KPMG, the administrators of Klarius. In the case of Klarius, the largest European manufacturer of after-market car parts, the Squire Sanders team advised on the sale and insolvency options for the Group’s operations in the UK, Spain, Germany, France, Ireland, Poland and Italy.