Travers Smith LLP has advised established carpet and flooring retailer Carpetright and its administrators on the pre-pack administration sale of its business and certain of its assets to CWHP Limited, part of the Tapi group.
The agreement transfers the business and certain assets of Carpetright into flooring retailer Tapi's group, including 54 of Carpetright's UK-based stores. Zelf Hussain, Rachael Wilkinson and Peter Dickens of PwC are acting as joint administrators of Carpetright.
The Travers Smith team was led by Head of Restructuring & Insolvency Edward Smith with support from Senior Counsel Kirsty Emery and Associate Melissa Atkinson. The wider team included Real Estate Partner Sarah Walker, Technology & Commercial Transactions Partner Ben Chivers, Employment Partner Ailie Murray, and Head of Tax Russell Warren.
This is the latest high-profile restructuring and insolvency mandate in the retail and leisure sector for Travers Smith. Previous experience includes advising SSP Group on its acquisition of AMT Coffee from its administrators, the restructuring of the casual dining Azzurri Group, acting for the administrators of Laura Ashley, and advising on a number of retail and leisure CVAs.
