13 Oct 2016 | 02:04 pm |
International law firm Pinsent Masons has advised administrators KPMG on the sale of fast food burger chain Ed's Easy Diner to Giraffe, via an out of hours court appointment of KPMG as administrators.
Rob Croxen and Blair Nimmo of KPMG were appointed as joint administrators over Ed's Easy Diner, Ed's Easy Diner Holdings and Ed's Easy Diner Overseas and immediately carried out a pre-packaged sale of the business and assets to the restaurant operator Giraffe, owned by Ranjit Boparan, helping preserve over 700 jobs.
The Pinsent Masons team was led by Restructuring Partner Steven Cottee assisted by Bhaljinder Mander, Andrew Robertson, Jack Isaacs and Carl Scott.
Commenting on the transactions, Steven Cottee from Pinsent Masons said:
"We were pleased to use our restructuring strength and expertise in the restaurant and leisure sector to assist KPMG in implementing an immediate sale of the business and assets of Ed's Easy Diner to Giraffe in the early hours of Wednesday morning helping to preserve the future employment of more than 700."
The purchase of Ed's Easy Diner adds to Ranjit Boporan's expanding portfolio, having also recently been involved in another pre-pack administration in the purchase of the business and assets of Bernard Matthews.
Mills and Reeve acted for Giraffe. Pinsent Masons has previously acted on the sale of Giraffe to Tesco in 2013.
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