Thomson Geer acted for ASX-listed City Chic Collective, a global omni-channel retailer specialising in plus-size women's apparel, footwear and accessories, on the sale of its UK-based Evans business and EMEA inventory and City Chic EMEA inventory for 8 million pounds. Evans has been acquired by AK Retail Holdings. The sale is part of City Chic's strategic review to simplify and streamline the business. Benefits of the sale include:
- Strengthening the group's balance sheet
- Accelerating the reduction in its debt facility
- Further reducing its inventory to allow for a clean inventory position sooner than planned.
Thomson Geer advised City Chic on all Australian aspects of the transaction.