McDermott Comment | Sir Philip Green’s TopShop Empire Arcadia Group Faces Collapse
Aymen Mahmoud, partner at law firm McDermott Will & Emery, said:
“We anticipate that the number of retailers who are forced to restructure their capital structures to increase as the pre-existing impact of decreased footfall is exacerbated by the impact of Covid-19. Many of these structures will be restructured out-of-court in a consensual process. Where they are appointed, insolvency practitioners such as administrators will, where possible, do what they can to protect the going concern value of companies but it may not be possible to save them all.”
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.