RSM has advised on the successful restructuring of Aldo UK. The UK trade and assets of Aldo UK were sold today (21st September) to the Bushell Investment Group (BIG). Since the appointment of administrators in May the business has successfully traded during a difficult period in which three additional stores have been opened. Supported by the Aldo Group this sale maintains and strengthens the Aldo brand within the UK.
Lee Bushell, the principal of BIG, comments: ‘This is an exciting opportunity and builds on our recent retail investments. Working with the Aldo Group we believe there is a real opportunity to develop this globally recognised brand in the UK.
Damian Webb, partner at RSM Restructuring Advisory, comments: ‘This transaction illustrates that there is a future for traditional retailers. Although trading is difficult it is clear that if parties work closely with their stakeholders it is possible to secure a successful outcome which benefits all parties.