Bailout for Henri Lloyd

Yachting Monthly - - NEWS -

Swedish in­vest­ment firm Ali­gro Group has agreed to buy five Henri Lloyd shops, stock and as­sets af­ter the brand went into ad­min­is­tra­tion in June.

Ali­gro UK Limited, a sub­sidiary of Ali­gro Group, will own stores at Cowes, Sal­combe, Dartmouth, Cheshire Oaks and Lyming­ton, se­cur­ing 44 jobs.

Henri Lloyd blamed ‘chal­leng­ing trad­ing con­di­tions on the high street’ for the ad­min­is­tra­tion, which has left 128 staff re­dun­dant. Four stores in Fal­mouth, Truro, Street and Swin­don have also closed.

The firm had pre­vi­ously taken steps to re­duce costs and di­vest as­sets in an at­tempt to stem its fi­nan­cial loses, sell­ing the brand and trade­marks to Ali­gro Group in March 2018.

In a state­ment, Ali­gro Group said it tried to bail out Henri Lloyd by act­ing ‘as lenders to meet ur­gent fi­nan­cial needs and con­tinue op­er­a­tions. Un­for­tu­nately, the sit­u­a­tion con­tin­ued to worsen and fil­ing for ad­min­is­tra­tion be­came in­evitable.’

Hans Eck­er­ström, founder of Ali­gro Group, said he was ‘com­mit­ted to carry the her­itage of the brand fur­ther and upgrade it to reach its full po­ten­tial.’

Founded in 1963, Henri Lloyd is known for em­brac­ing new tech­nol­ogy and tex­tiles and was one of the first com­pa­nies to use Gore-tex. It has played a sig­nif­i­cant role in sup­port­ing Bri­tish sail­ing, spon­sor­ing the likes of Sir Ben Ainslie and Shirley Robert­ston in their Olympic cam­paigns. It has been the tech­ni­cal cloth­ing sup­plier for the Clip­per Round the World Race since 2002 and for Land Rover BAR’S 2017 Amer­ica’s Cup bid.

Five Henri Lloyd shops have been saved as a re­sult of the sale to Swedish firm Ali­gro Group

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