Hogan Lovells Advises Zolfo Cooper and Kelso Place on Nicole Farhi Disposal
23 July 2013
LONDON, 23 July 2013 - Hogan Lovells has advised on the £5.5 million sale of the iconic global fashion brand Nicole Farhi to Maxine Hargreaves-Adams, the owner of Fenn Wright Manson and daughter of Matalan founder John Hargreaves.
Hogan Lovells advised administrators Peter Saville, Anne O'Keefe and Fraser Gray of Zolfo Cooper LLP on the disposal as part of the administration of the Nicole Farhi business. Prior to the appointment of administrators, Hogan Lovells had advised private equity firm and long-standing client, Kelso Place Asset Management LLP (Kelso Place), in its capacity as Nicole Farhi's majority shareholder.
Nicole Farhi is a British fashion lifestyle brand launched in 1982 and headquartered in London. The sale includes all six stores and all of the business' concessions across the UK and Ireland.
Hogan Lovells previously advised Kelso Place on its acquisition of the Nicole Farhi brand from private equity firm OpenGate Capital in January 2012.
The Hogan Lovells team advising the administrators was led by London Business Restructuring and Insolvency partner Joe Bannister, assisted by associate Jon Dabbs, real estate partners Dan Norris and Mathew Ditchburn and counsel, Anita Zacharias.
Commenting on the transaction, Joe said:
"We are very pleased to have had the opportunity to support the rescue of this iconic fashion brand and in so doing, to have helped save the jobs of many working with and for the Nicole Farhi business".