Hilco_Capital

Hilco Capital

Hilco Capital

British company that specialises in restructuring and refinancing other companies

Hilco Capital is a British financial investment and restructuring advisory company, operating in the UK, Western Europe, Canada and Australia.[2]

Quick Facts Trade name, Company type ...

History

Hilco Capital was founded in London in 2000 as a joint venture between its management team and Hilco Global.[3][4]

Notable projects

Hilco has been involved with these companies, and in some cases owning and operating them for a period of time:[5]

  • Denby Pottery Company (debt, restructuring and management buyout)
  • Habitat (debt and restructuring, sold to Home Retail Group & Cafom)[6]
  • HMV (purchased in 2013, sold to Sunrise Records in 2019)
  • Tilley Endurables (Canada, sold to Gibraltar & Company)[7]
  • Glue Stores (Australia, sold to Accent Group)
  • Anglia Crown (sold to BonCulina)[8]
  • Cath Kidston (sold to Next)
  • French Connection (provided funding, July 2020)
  • Gieves & Hawkes (credit facility, June 2022)[9]
  • David Jones (Australia, credit facility, May 2023)[10]
  • Superdry (funding, August 2023)
  • Peacocks (retail advisor during administration)
  • BHS (operated stores during administration)[11]
  • Debenhams (retail adviser during administration)[12]

Awards

Hilco Capital was awarded Special Situations Debt Provider of the Year at the IFT Awards 2022.[13] The company also won the Turnaround of the Year Award at the Turnaround, Restructuring & Insolvency Awards (TRI) 2019.[14] It also won the Business Rescue of the Year award (£21-50m turnover) at the Insolvency & Rescue Awards 2009.[15]

Criticism

While the company was described in December 2018 by The Times as a vulture fund,[16] other media reports have described this narrative as ‘scapegoat-hunting desperation’.[17][18]

References

  1. [1]
    "Hilco UK Limited Company Number 03944915". Companies House. Retrieved 11 May 2013.
  2. [2]
    Walawalkar, Aaron (15 August 2020). "Debenhams hires restructuring firm for potential liquidation". The Guardian.
  3. [3]
    Harrison, Nicola (8 July 2011). "Hilco sells Habitat European arm to Cafom Sa". Retail Week.
  4. [4]
    Burn-Callander, Rebecca (23 April 2016). "Now that's Gangnam style: 200-year-old pottery firm Denby becomes surprise hit in Korea". The Telegraph.
  5. [5]
    "Previous Projects" (PDF). Hilco UK. Retrieved 11 May 2013.[permanent dead link]
  6. [6]
    Harrison, Nicola (8 July 2011). "Hilco sells Habitat European arm to Cafom Sa". Retail Week.
  7. [7]
    Singh, Prachi (30 July 2018). "Hilco sells Canadian brand Tilley to Gibraltar & Company". Fashion United.
  8. [8]
    Best, Dean (16 May 2023). "Foodservice group BonCulina buys UK meals maker Anglia Crown". Just Food.
  9. [9]
    Nazir, Sahar (13 July 2022). "Gieves & Hawkes seeks new buyer as Hong Kong owner falls into liquidation". Retail Gazette.
  10. [10]
    "Clifford Chance advises on financing for Anchorage Capital Partners' acquisition of David Jones in Australia". Clifford Chance. 3 May 2023.
  11. [11]
    Herbert, Tom (2 June 2016). "BHS folds as no buyer found". Accounting Web.
  12. [12]
    Nazir, Sahar (15 August 2020). "Further jobs at risk as Debenhams owners plan liquidation". Retail Gazette.
  13. [13]
    "IFT Announces Award Winners". www.the-ift.com.
  14. [14]
    "Hilco Capital and Moores win Turnaround of the Year Award". KBB Daily. 22 November 2019.
  15. [15]
    Staff (12 January 2011). "Hilco: Turning Bad Money Into Good". ESM Magazine.
  16. [16]
    "Vulture fund charged ailing HMV £48m".
  17. [17]
    Kleinman, Mark (14 September 2023). "Mark Kleinman: The inquest into Wilko's demise has only just begun". CityAM.
  18. [18]
    "Accent Group to acquire Glue Store and Next Athleisure wholesale brands". Shopping Centre News. 26 April 2021.
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