BIRKETT LONG ACTS IN DEAL TO SECURE JOBS

Author(s)
Tracey Dickens

Birkett Long was the lead legal advisor to the East of England Co-operative Society in the recent sale of its non-food retail business, which safeguarded the jobs of 350 staff across the region.

Tracey Dickens, Head of our Commercial & Corporate Finance Team said: “Our client was determined to secure the continued employment of the workforce affected by the proposed sale, which called for a great deal of detailed negotiation with the buyer. We were very pleased to have contributed to this successful and speedy transaction.”

Richard Samson, Chief Executive, East of England Co-operative Society said: “Our decision to transfer this business to another retailer whilst retaining full ownership of the freehold properties was not taken lightly, but we were able to achieve two key objectives, which were to secure the jobs of the 350 employees involved and to enable trading to continue in these important locations.”

The non-food retail and jewellery business, operating from 14 stores around East Anglia with 8 in Essex, was acquired in July by the Vergo Group for an undisclosed sum. The properties from which the stores operate remain part of the Society’s property portfolio.

Tracey Dickens
tracey.dickens@birkettlong.co.uk

Media
BLong newsletter - February 2010

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