Ashtons Legal advises administrators of leather retailer Lakeland Properties Ltd

Posted 13/08/2014

Ashtons Legal is delighted to have advised administrators McTear Williams & Wood in the pre-pack sale of the business and assets of Lakeland Properties Ltd.  The family-owned company based in Ambleside in Cumbria are believed to be the UK’s largest specialist retailer of fine leather goods and blame the recent warm winter on lowering sales coupled with high lease costs.

Lakeland Properties, who trade as Lakeland Leather, operated 22 stores and employed around 200 people. Ashtons Legal continue to advise during the administration of the company.

Matthew Downing, solicitor at Ashtons Legal led on the transaction from a corporate perspective, assisted by others including Ross Strowger (Employment) and Magnus McManus (Property).

Matthew Downing said: “This was a very sensitive and time pressured transaction which we were pleased to be able to conclude in the relevant time constraints”.

“It involved a very quick turnaround which we were able to deliver on and it highlighted one of our key strengths as a firm which is being able to work effectively as a team in pulling together our extensive expertise and resources across the firm to successfully achieve our client’s goals”.

He added: “It has been a pleasure to advise East Anglia’s leading business rescue and insolvency team at McTear Williams & Wood who have a great track record of assisting businesses in similar circumstances”.