Aussie fashion brand ‘saved’
A global law firm has advised an Australian fashion brand on its restructuring following the company going into voluntary administration.
Firm: K&L Gates (Lover and Ferrier Hodgson)
Deal: Lover has been advised on its restructuring after the company went into voluntary administration.
Key players: The K&L Gates team that included corporate and transactional partner Hal Lloyd and special counsel Brent Delaney, and restructuring and insolvency partner Jason Opperman and senior associate Daniel Houghton, advised the administrator, Ferrier Hodgson, on all aspects of the administration of Lover including the company’s sale to Australian fashion icon Hotsprings.
Deal significance: According to a statement from K&L Gates, the transaction has helped secure the future of Lover, a women’s fashion label, after it went into voluntary administration.
“The K&L Gates cross-practice restructuring and special situations group was established to provide clients with a multidisciplinary skill set and holistic approach to transform distressed assets into viable investment opportunities,” said K&L Gates restructuring and insolvency partner Jason Opperman.
“We’re pleased to have worked hand-in-hand with Ferrier Hodgson to achieve this and to ensure the future is bright for the Lover brand.”