The Corporate Restructuring & Insolvency team serve up good news with Deloitte on the Peyton and Byrne prepack sale
Background
Charles Russell Speechlys’ specialist teams provide bespoke advice to high profile entrepreneurs in the dynamic and competitive retail and leisure sector. We can anticipate your key priorities, and provide advice tailored to suit all stages of the business life cycle.
Peyton and Byrne; founded in 2005 by chef and TV personality Oliver Peyton, is an acclaimed catering company and bakery.
Peyton and Byrne’s upmarket restaurants and cafes have featured in iconic landmarks across London such as The National Gallery, The Royal Academy of Arts and The Imperial War Museum.
However, when a key site was lost the business suffered cash flow problems and
required professional support to advise upon its options.
We have worked closely with the Peyton and Byrne family for many years and were pleased to be invited by Deloitte to assist with the company's restructuring.
Our approach
We worked closely with the experienced retail team at Deloitte (Rob Harding, Dan Butters and Omar Mirza) and acted for the proposed administrators to complete the pre-pack sale of Peyton and Byrne to Sodexo. Sodexo acquired Peyton Events and Peyton and Byrne's public catering contracts that operate in landmark locations.
This acquisition complements Sodexo’s business, allowing it to open its doors in London with potential growth in the commercial tourism sector, as well as providing Peyton and Byrne with support to continue with “business as usual”.
Result
We advised Deloitte on the pre-pack sale, which preserved the brand and business of Peyton and Byrne maximising the return to its creditors and ensuring the continuity of both strands of the Peyton and Byrne business preserving 450 jobs.
For more information please get in touch via simon.ridpath@crsblaw.com or +44 (0)20 7427 6406.
