Hilco Capital
 | |
| Hilco Capital | |
| Company type | Limited |
| Industry | Investment, finance, restructuring |
| Founded | 2000 |
| Headquarters | , |
Area served | UK, Western Europe, Canada, Australia |
| Services | Turnaround investing, lending, restructuring services |
| Parent | Hilco Global |
| Website | www |
Hilco Capital is a British financial investment and restructuring advisory company, operating in the UK, Western Europe, Canada and Australia.[2]
History
[edit]Hilco Capital was founded in London in 2000 as a joint venture between its management team and Hilco Global.[3][4]
Notable projects
[edit]Hilco has been involved with these companies, and in some cases owning and operating them for a period of time:[5]
- Homebase (restructuring, purchased from Wesfarmers)[6]
- Denby Pottery Company (debt, restructuring and management buyout)
- Habitat (debt and restructuring, sold to Home Retail Group & Cafom)[7]
- HMV (purchased in 2013, sold to Sunrise Records in 2019)
- Tilley Endurables (Canada, sold to Gibraltar & Company)[8]
- Glue Stores (Australia, sold to Accent Group)
- Anglia Crown (sold to BonCulina)[9]
- Cath Kidston (sold to Next)
- French Connection (provided funding, July 2020)
- Gieves & Hawkes (credit facility, June 2022)[10]
- David Jones (Australia, credit facility, May 2023)[11]
- Superdry (funding, August 2023)
- Peacocks (retail advisor during administration)
- BHS (operated stores during administration)[12]
- Debenhams (retail adviser during administration)[13]
Awards
[edit]Hilco Capital was awarded Special Situations Debt Provider of the Year at the IFT Awards 2022.[14] The company also won the Turnaround of the Year Award at the Turnaround, Restructuring & Insolvency Awards (TRI) 2019.[15] It also won the Business Rescue of the Year award (£21-50m turnover) at the Insolvency & Rescue Awards 2009.[16]
Criticism
[edit]While the company was described in December 2018 by The Times as a vulture fund,[17] other media reports have described this narrative as ‘scapegoat-hunting desperation’.[18][19]
References
[edit]- ^ "Hilco UK Limited Company Number 03944915". Companies House. Retrieved 11 May 2013.
- ^ Walawalkar, Aaron (15 August 2020). "Debenhams hires restructuring firm for potential liquidation". The Guardian.
- ^ Harrison, Nicola (8 July 2011). "Hilco sells Habitat European arm to Cafom Sa". Retail Week.
- ^ Burn-Callander, Rebecca (23 April 2016). "Now that's Gangnam style: 200-year-old pottery firm Denby becomes surprise hit in Korea". The Telegraph.
- ^ "Previous Projects" (PDF). Hilco UK. Retrieved 11 May 2013.[permanent dead link]
- ^ "Homebase sold for £1 as DIY disaster ends for Wesfarmers". BBC News. 25 May 2018.
- ^ Harrison, Nicola (8 July 2011). "Hilco sells Habitat European arm to Cafom Sa". Retail Week.
- ^ Singh, Prachi (30 July 2018). "Hilco sells Canadian brand Tilley to Gibraltar & Company". Fashion United.
- ^ Best, Dean (16 May 2023). "Foodservice group BonCulina buys UK meals maker Anglia Crown". Just Food.
- ^ Nazir, Sahar (13 July 2022). "Gieves & Hawkes seeks new buyer as Hong Kong owner falls into liquidation". Retail Gazette.
- ^ "Clifford Chance advises on financing for Anchorage Capital Partners' acquisition of David Jones in Australia". Clifford Chance. 3 May 2023.
- ^ Herbert, Tom (2 June 2016). "BHS folds as no buyer found". Accounting Web.
- ^ Nazir, Sahar (15 August 2020). "Further jobs at risk as Debenhams owners plan liquidation". Retail Gazette.
- ^ "IFT Announces Award Winners". www.the-ift.com.
- ^ "Hilco Capital and Moores win Turnaround of the Year Award". KBB Daily. 22 November 2019.
- ^ Staff (12 January 2011). "Hilco: Turning Bad Money Into Good". ESM Magazine.
- ^ "Vulture fund charged ailing HMV £48m".
- ^ Kleinman, Mark (14 September 2023). "Mark Kleinman: The inquest into Wilko's demise has only just begun". CityAM.
- ^ "Accent Group to acquire Glue Store and Next Athleisure wholesale brands". Shopping Centre News. 26 April 2021.