News and Press
TLT advises on administration of leading milkshake retail brand

National law firm TLT has advised on the administration and sale of part of leading milkshake retail brand Shakeaway. 

Shakeaway started trading in 1999 and grew to 55 owned and franchised stores in the UK with overseas stores in Cyprus, Australia and Abu Dhabi. In 2010 the business reported a £4.6 million turnover. However, due to difficult retail conditions and growing pressure from landlords, the company announced earlier this month that it would be closing several stores throughout the country.

TLT advised administrators Julie Palmer and Mark Fry of Begbies Traynor in the deal. The team was led by corporate recovery & insolvency partners Peter Carney and James Forsyth and involved other specialists in corporate, employment, property and tax across TLT's Bristol and London offices.

Head of Corporate Restructuring and Insolvency, partner James Forsyth says, "This deal has saved many jobs across the country and we have helped the administrators secure the sale of this national and growing international brand."

TLT has a strong reputation in the South West for corporate recovery and insolvency work and a growing reputation in London and the South East. The firm is currently advising independent restructuring experts Zolfo Cooper on the administration of City institution Balls Brothers which operate a group of 19 bars and restaurants across London.