hc solicitors LLP advises on sale of 19 department stores

A team from hc solicitors LLP were among the advisors on Anglia Regional Co-operative Society’s sale of 19 Westgate Department stores to Beale PLC.

The reverse takeover was announced to the Stock Exchange on Wednesday April 6. The Westgate department stores are predominantly located in East Anglia, with stores also in the East Midlands, Yorkshire and further afield.

Peterborough firm hc solicitors LLP director and head of the commercial team, Anna Spriggs, associate Karen Turpin and solicitor Nick Arculus are advising Anglia on all the property aspects of the transaction.

Anna Spriggs said “We are particularly pleased, following our very lengthy relationship with the Society, to have helped to bring these significant property transactions to fulfillment and firmly believe the Society will go from strength to strength as a result for the benefit of its members and staff”.

The deal will now go to the shareholders of Beale PLC for their approval.

Anglia will continue to operate several concessions in the stores, including furniture and travel. An Anglia spokesman, Richard Jones, Finance Executive said: “This was a very important deal for Anglia Co-operative and so it was vital that we had a credible and trusted set of advisors. This was a complicated transaction but has been handled as efficiently as possible. All parties have worked hard to ensure that both Anglia and Beales have a strong base from which to grow their businesses."

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This article has been prepared for general interest and information purposes only; it does not constitute legal advice and should not be relied on as such. While all possible care has been taken in the preparation of this article, no responsibility for the accuracy and/or correctness of the information and commentary set out in the article, or for any consequences of relying on it, is assumed or accepted by the firm or the authors.