News and Press
TLT advises on Balls Brothers administration

National law firm TLT has been retained to advise Nick Cropper, Peter Holder and Stuart Mackellar, partners at independent restructuring experts Zolfo Cooper, on the administration of Balls Brothers Limited and Lewis & Clarke Limited (together the Companies) following their appointment as administrators on Friday 26th November 2010.

The Companies operate a group of 19 bars and restaurants operating across the City of London and the West End, together with a Wine Merchant division supplying restaurant, corporate and private clients. There are currently 332 members of staff. Following a period of cash flow difficulties and testing trading conditions linked to the cuts across the City’s financial institutions, the Companies were unable to secure further investment leading to the appointment of the Joint Administrators.

TLT's head of Corporate Restructuring and Insolvency, partner James Forsyth, who is leading the 10-strong team advising the administrators, says, "We are seeing an increasing number of companies experiencing difficulties in the leisure sector, which has been hit hard by the downturn. This assignment presents another opportunity for TLT's strong Corporate Recovery and Insolvency team to use its expertise and understanding of the leisure sector to helping the Administrators in trading the business and securing the sale of this City institution as a going concern”.

Nick Cropper of Zolfo Cooper, said: “The Balls Brothers business has been an established name for over 50 years and is extremely well known across the London leisure and dining sector. The Company has a great heritage and enjoys a lasting reputation due to its high standards in service, food and wine, and is sure to generate significant interest.”

TLT has a strong focus on the leisure sector and acts for some of the sector's leading pub companies, clubs, restaurants, hotel chains and visitor attractions including Punch Taverns, one of the UK's leading pub companies, and Merlin Entertainments, the world's second largest entertainment group. TLT provides its leisure sector clients with specialist real estate, licensing, litigation, corporate, commercial, regulatory and employment advice.