Retailer’s Future Secure but Many Jobs Lost

  • Henri Lloyd saved from administration by Aligro UK Limited
  • 128 jobs to be cut despite company coming out of administration
  • Stores in Salcombe, Dartmouth, Cowes, and Lymington to remain open
  • Falmouth, Truro, Street, and Swindon stores to close along with 20 House of Fraser concessions
  • Manchester headquarters also shutting down
  • Six head office roles retained
  • RSM Restructuring Advisory oversaw administration process

Outdoor clothing and equipment retailer Henri Lloyd has been saved from administration by Aligro UK Limited, which will continue to trade from stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks, and Lymington. However, a total of 128 jobs are set to be lost as stores in Falmouth, Truro, Street, and Swindon, along with 20 House of Fraser concessions and the Manchester headquarters will close. Six head office roles will also be retained. RSM Restructuring Advisory was brought in on June 8th to oversee the administration process at Henri Lloyd. Yesterday, the sale of five stores and certain stock assets was confirmed, with Aligro UK Limited established on June 4th, 2018. Chris Ratten of RSM Restructuring Advisory commented: ‘This sale represents the best outcome for creditors, it maintains Henri Lloyd’s presence in key locations and secures 44 jobs. Selling the whole business as a going concern was not a viable option, and regrettably, a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.’

Factuality Level: 10
Factuality Justification: The article provides accurate information about Henri Lloyd being brought out of administration by Aligro UK Limited and the number of jobs saved and lost as a result. It also mentions the involvement of RSM Restructuring Advisory in the process.
Noise Level: 3
Noise Justification: The article provides relevant information about Henri Lloyd being brought out of administration by Aligro UK Limited and the preservation of some jobs, but lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Henri Lloyd’s administration and subsequent sale impact its employees and the company’s financial stability
Financial Rating Justification: The article discusses a company’s administration process, the sale of stores and assets, and job losses, which are all related to financial matters and business operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but the company Henri Lloyd is facing financial difficulties and job losses.

Reported publicly: www.retailsector.co.uk