Gordons Advises on Pavers’ Acquisition of Four Brantano Stores
Tuesday 2nd May 2017
Yorkshire law firm, Gordons, has advised Pavers, the York-based footwear retailer, on the acquisition of four Brantano footwear stores from administrators at PwC.
The purchase of the outlets in Lincoln, Bournemouth, Newton Abbot and Newport (Isle of Wight) forms part of Pavers’ strategy for planned and focused expansion, and follows Brantano entering administration in March.
A team from Gordons consisting of commercial property experts Joanne Fearnley and James Kimberley, Wayne Parker from the insolvency team, and employment lawyer, Bryony Goldspink, advised on the deal.
Pavers managing director Stuart Paver said: “The acquisition of these new stores forms a key part of our expansion strategy and the advice provided by Gordons allowed us to undertaken the work and exchange the deal quickly under very demanding timescales.
“These stores will allow us to move into new areas of the UK and enabled us to save jobs at all four stores and we expect to rebrand the outlets and begin trading within the next few weeks.”
Pavers launched in York in 1971 and is now one of the UK’s leading shoe retailers operating more than 115 outlets in the UK and Ireland.
Joanne Fearnley, commercial property partner at Gordons, who advised on the acquisition, said: “We are very pleased to use our experience from similar deals to help Pavers’ quickly exchange on the purchase these four former Brantano stores.
“Pavers is looking ahead to further expansion and the addition of these new stores to its portfolio is a significant contribution to its ambitious growth plans.”