• Shoon Limited
Deals:

Shoon Limited

02 August 2017

Sector

Retail

Business description

SHOON is an independent company based in Wells, Somerset. working with international brands and suppliers, mainly based in Europe, who strive for excellence, innovation and individuality.

Situation

Despite the popularity of the brand, the business faced an uncertain situation caused by ahigh level of retail unit overhead cost base and challenging retail environment.

BDO Role

BDO Special Situations team were engaged by the Company and its Shareholders to provide rapid corporate support services to this BDO audit client.

This cumulated in BDO running a M&A process to a wide range of trade and financial buyers to deliver a solution which provided the business with a new financial platform.

Outcome

Following an extensive marketing process, a preferred financial buyer was identified for the business with the transaction. TNUI Capital executed a solvent sale of the business preserving all of the employee base in the immediate term.

Shortly following the transaction the Company was subject to a CVA which allowed the business to exit a number of non-performing retail outlets to rationalise the geographic footprint.

Since then the business has been made a number of acquisitions in the footwear sector and continues to perform well following this restructuring exercise.