Leonard Curtis Business Solutions Group has secured the future of 1,500 employees at A Levy & Son, which trades as Blue Inc and Officers Club, by advising on a restructuring process.
Neil Bennett and Alex Cadwallader, directors at the business rescue and insolvency firm, were appointed joint administrators to A Levy & Son on January 19.
As a result of the restructuring deal, Blue Inc has protected the growth of the business by securing a more focused portfolio of stores, and thus, greater alignment with customers as online shopping expands.
Bennett said: “We are delighted that the sale of A Levy & Son has helped to safeguard the future of 1,500 employees. We are working closely with the directors to ensure a smooth transition of the business.”
Cadwallader said: “This restructuring deal represented the best outcome possible for the employees and the customers. The buyer has every intention of honouring vouchers and customer returns.”
A Levy & Son achieved sales of more than £100m in 2014 through its 230 stores and an expanding overseas and online business.
By Makaela Wright