29 September 2020

Carey Olsen advises committee of lenders in relation to FatFace restructuring

Carey Olsen has acted alongside Latham & Watkins on the successful consensual debt-for-equity financial restructuring of FatFace, the well-known British retail and multichannel lifestyle brand.

The restructuring involved a significant reduction of the group's operating leverage and £15 million of committed new financing to enable the group to invest in and deliver its current business strategy whilst also supporting any funding requirements arising as a consequence of the coronavirus (COVID-19).

As part of the transaction, ownership of the FatFace group has transitioned to the group's lenders who were represented by Carey Olsen in Jersey.

The Carey Olsen team comprised partner Kate Andrews, senior associates Mathew Du Val and Rebecca McQuillan, and associates Lauren Gray and Cathryn Houston.