Brantano was placed into administration in January 2016 by owner Alteri Investors who bought 81 of its stores and 59 concessions, saving around 1,400 jobs. GCW was then appointed by administrator PwC to market the 57 surplus stores. It has also been appointed to manage the transition of the estate into the new company Brantano Retail Ltd.
Deals on an outcome for around 40% of the stores was secured within two weeks of completion of the sale of the business including a package of stores sold to value retailer Poundworld and a number of premium surrenders to landlords. GCW also worked to improve terms where required and to secure assignments of leases on the 81 remaining stores. The focus was on securing the viability of the business going forward.
Brantano was bought by Alteri Investors along with Jones Bootmaker in October 2015 but the restructuring does not affect the Jones stores.
GCW’s expertise on retailer administrations dates back to 2011 when it advises administrator Zolfo Cooper, now AlixPartners, on the demise of British Bookshops and Stationers. It has since been appointed by administrators for a variety of retailers including Jane Norman, TJ Hughes and Fenn Wright Manson, and The Jessop Group.