Leading global law firm Mayer Brown advised GA Europe, the Mayfair based leading restructuring advisor and subsidiary of US listed Great American Group, on the administration of British Bookshops & Stationers (BBS). Zolfo Cooper, who are likewise advised by Mayer Brown, have been appointed administrators of the 51 store group and are currently examining the options available to BBS.
Restructuring partner Ashley Katz led the Mayer Brown team and was assisted by Restructuring associate Jessica Walker and Real Estate associate Nichola Padget.
This is the second retail restructuring assignment that Mayer Brown has advised GA Europe and Zolfo Cooper on in the last four months, having also advised them on the Suits You (Speciality Retail Group) insolvency in October 2010.
Ashley Katz, Restructuring partner at Mayer Brown, said: "We were delighted to advise our client GA Europe on this important restructuring transaction in a sector of the retail trade which has seen significant changes and where recent trading conditions have been particularly difficult."
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