BCLP Advise City Chic Collective Limited (ASX:CCX) on Acquisition of Evans business from Arcadia Group for £23.1M

International law firm BCLP have advised City Chic Collective Limited (ASX:CCX) on its acquisition, through a newly incorporated UK subsidiary, of assets comprising the longstanding UK-based women’s plus sized clothing brand “Evans” and its eCommerce and wholesale business from Evans Retail Limited (in administration) and other entities with the Arcadia Group.  The purchase price is approximately £23.1 million. 

The transaction is the first deal announced by the administrators of the Arcadia Group after their high profile appointment on 30 November. 

The definitive and unconditional sale agreement was exchanged on 19 December 2020 and completion will occur on Wednesday, 23 December 2020. The administrators also agreed to provide transitional services to the eCommerce business until April 2021. 

The cross-departmental BCLP team was led by M&A and Corporate Finance partner Andrew Hart with support from Daniel Bell (M&A and Corporate Finance), Ben Jones (Restructuring & Insolvency) and Phil De Vries (Restructuring & Insolvency). Specialist advice and support was also provided by Sophie Shaw (Restructuring &Insolvency), Benjamin Wheeler and Rachel Dale (Technology & Commercial), Kate Brimsted and Tom Evans (Data Privacy & Cyber Security)) Ash von Schwan, Susan Murphy and Ashley Squire (Intellectual Property), Adam Lambert, Mark Kaye and Leah Aschettino (Employment), David Dennison (Pensions) and Richard Harbot (Tax).

New BCLP client CCX is an ASX-listed multi-channel retailer in plus-sized women’s fashion headquartered in Sydney with over 200 global locations selling in Australia, New Zealand, North America, the EU and the UK.  

Read their transaction announcement >