Clearwater bags Ollie & Nic deal
The consumer team at Birmingham-based Clearwater Corporate Finance has advised the founders of retailer Ollie & Nic on a refinancing by a group of retail investors. The handbag and accessories brand was handed to administrators last month after a difficult festive trading period.
Directors at Morley Trading, the holding company retailing the Ollie & Nic brand, were forced to appoint administrators from MCR earlier this year. However, the company has been saved after a rescue bid from Peter Davies, Richard Sims and Chris Inman.
The trio previously held senior roles in Arcadia and were part of the Rubicon team that undertook a management buyout of clothing retailers Warehouse and Principles from Arcadia in 2001.
Ollie & Nic founders Nick and Jane Hill, based in Brighton, will continue to be involved in the future growth and development of the brand.
Clearwater’s consumer team advised on the transaction, comprising Marc Gillespie, Richard Shaw and Jackie Naghten.
Marc Gillespie, partner and head of the consumer team at Clearwater, said: “The incoming investors and management will provide an excellent platform to enable the potential of the Ollie & Nic brand to be unlocked. This rescue bid is an excellent example of how strong brands can be saved as going concerns with the right investment support.”
