Read the Q1 2012 Hilco Newsletter
April 23rd, 2012
The latest edition of the Hilco Newsletter is out – click here to read it now.
News
Hilco sponsors Marathon des Sables runner
April 2nd, 2012
Hilco UK is proud to sponsor John Gunn as he runs Africa’s legendary Marathon des Sables in aid of Yorkshire Cancer Research.
The Marathon des Sables (translated as ‘The Marathon of the sands’) is the most infamous ultra marathon in the world and is commonly spoken of as the ‘toughest footrace on earth’. The event consists of a 6 day, 151 mile race across the Sahara Desert in Morocco, the equivalent to 5.5 regular marathons.
To follow John’s progress as he tackles this awe inspiring feat of endurance, head to www.runningthesahara.net/
Denby Group reports record results
March 15th, 2012
Denby Holdings, the Valco-owned pottery business comprising the Denby, Burleigh, Poole and Leeds potteries, has achieved a significant turnaround in performance in 2011.
The Group enjoyed its biggest ever December with sales up 8% to £4.3 million whist sales for the year were up 5% with EBITDA up 50%.
The Denby brand enjoyed a 31% increase in international sales, driven by expansion into Korea and Japan. Back at the company’s Derbyshire manufacturing base, plans are progressing to expand the existing Denby Visitor Centre to include a hotel, village inn and outdoor activity centre, creating 600 jobs.
The Group’s strong financial performance is positive news for British design and manufacturing in a challenging market.
hmv Canada nominated for Canadian Music Retailer of the Year award
March 6th, 2012
Nominees have been announced for the Canadian Music & Broadcast Industry Awards and hmv Canada is delighted to be nominated for Retail Chain of the Year. It is hmv Canada’s 21st consecutive nomination, the retailer has been recognized as Canadian Music Retailer of the Year for the past 20 years, and has also been recognized as the Canadian Entertainment Network DVD Retailer of the Year. This year’s awards take place on Thursday, March 22, 2012 in Toronto with special performances by Canadian music icons Burton Cummings, Daniel Lanois, Raine Maida and Chantal Kreviazuk. For more information on Canada’s largest music retailer, visit hmv.ca.
Hilco Ireland Sells A-Wear
March 2nd, 2012
The Awear brand, stores and the assets of the business in the Republic of Ireland have been sold preserving all 450 jobs.
Since its acquisition by Hilco, the Company has implemented a series of restructuring activities including a reduction in Head Office support staff as well as the negotiation of substantially improved rental terms with the vast majority of its landlords and the closure of the loss-making UK business. Hilco has provided over €3m of additional working capital to the business including almost €600,000 in the last week to ensure employee salaries could be paid.
A-Wear also made significant progress in repaying historic liabilities to both landlords and the Revenue since being acquired by Hilco with over €3m in payroll taxes and VAT having been paid in that period including the arrears of over €1.5m which were overdue at the date of acquisition.
Hilco announces new office in Madrid
November 24th, 2011
Hilco has announced the appointment of Igor de la Sota to lead the company’s new Madrid office, opening in January 2012.
Paul McGowan, Chief Executive of Hilco UK commented: “Hilco recognises the strong potential for its restructuring and investment model in the Iberian region. The establishment of a presence in Madrid is a natural extension of our Group plans which have seen us augmenting our existing operations in the UK and Germany with the opening of new offices in Dublin, Ireland and Toronto, Canada during 2011.”
Igor de la Sota commented: “The Iberian market has huge potential, particularly given the current economic conditions. Having an office in Madrid will allow Hilco to get closer to these opportunities and leverage our restructuring experience from other parts of Europe.”
Before joining Hilco, Igor held a senior position at ING Barings in Spain. Igor has also played rugby at full International level for Spain.
Hilco Ireland acquires A|Wear
October 20th, 2011
Dublin-based fashion retailer A|Wear has completed the sale of its entire share capital to Hilco Ireland. A|Wear, which commenced trading in Ireland in the early 1960s, has 39 stores throughout Ireland and three in the UK, as well as substantial online and wholesale businesses.
Hilco Ireland has also provided extended working capital facilities to the business and is assisting the retailer’s management to address current market conditions in Ireland and develop its overseas markets.
Appointment of Larry Howard as Chief Executive of Hilco Capital Ireland Limited
September 1st, 2011
Hilco is pleased to announce the appointment of Larry Howard as Chief Executive of Hilco Capital Ireland Limited
Larry was most recently Finance Director of Dunnes Stores, the major Irish retailer, and was previously FD at Gordon Brothers in the UK. Larry will bring the right package of skills to build our businesses in the Irish Republic and Northern Ireland.
Valco nominated for turnaround awards
August 24th, 2011
Valco Capital Partners, the private equity arm of Hilco UK, has reached the final stage of the prestigious Insolvency & Rescue Awards for both the Burleigh and Park Precision turnarounds. The winner of the Business Rescue of the Year (Under £20m Turnover) category will be announced at the awards ceremony on 5 October 2011.
The category includes tough competition from major multinationals including PwC and KPMG but the Valco team remains optimistic, having previously won the award in 2009 for the Denby turnaround.
Hilco UK acquires HMV Canada
July 21st, 2011
Hilco UK has acquired HMV Canada from the UK’s HMV Group plc. The transaction also includes the provision of a working capital facility to enable HMV’s Canadian management team to implement their turnaround plans.
The company is based outside Toronto and operates 119 stores across the country, making it Canada’s only national entertainment retailer.