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DEALS
International law firm Eversheds advised administrators BDO Stoy Hayward on the sale and assets of UK car parts and accessories chain, Motor World. Motor World suffered from a severe sales slump and, as a result, they have shut 95 of Motor World's 237 shops. The other 142 outlets have been sold to Pacific Retail, a company funded by existing investors Bailey Capital. This deal has saved around 500 jobs. David Gray, a corporate partner at international law firm Eversheds who led the deal, comments: “This is the latest in a series of retail failures in the UK. Co-ordinating the timing of the administration and subsequent sale was challenging. We drew on the expertise from our restructuring, employment and real estate teams. We are pleased that the purchase by Pacific Retail Limited has rescued part of the business and a significant number of jobs.”
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