Gordons advises on major retail deal
Monday 8th December 2008
Gordons has reinforced its reputation as a leading adviser in the retail sector by advising the UK’s fastest growing greetings card retailer, Card Factory, on its latest acquisition.
Fellow card retailer, Celebrations Group, which owns the Card Warehouse and Card Fair brands, went into administration last month causing the potential loss of 1700 jobs nationwide. Card Factory has stepped in to take over almost 80 of the Group’s 280 stores and save over 500 jobs in the process.
Richard Hayes, Managing Director of Card Factory said: “The Celebrations stores purchased provide a good fit with our existing footprint and enhance our national presence. To achieve this and at the same time save over 500 jobs is very pleasing for us!
“In uncertain economic times the general public demands ever increasing quality but also wants to see better value for money. Card Factory has always worked on both principles and that has lead to the company becoming the fastest growing card retailer in the UK today.”
The Gordons team on the transaction numbered over 20 lawyers and was headed by Partners John Holden and James Fawcett (Corporate).
James Fawcett said: “We are delighted to have worked with Card Factory on this important deal. Our deep understanding of the retail sector ensured that we were able to deliver this transaction within the very short timescale it required.”