Hilco Capital
British financial investment and restructuring advisory company
From Wikipedia, the free encyclopedia
Hilco Capital Limited[1] is a British financial investment and restructuring advisory company, operating in Western Europe, Canada and Australia.[3]
| |
| Formerly | |
|---|---|
| Company type | Limited |
| Industry | Investment, finance, restructuring |
| Founded | March 10, 2000 in London, England[2] |
| Headquarters | London , United Kingdom[1] |
Area served | UK, Western Europe, Canada, Australia |
| Services | Turnaround investing, lending, restructuring services |
| Parent | Hilco Global |
| Website | hilcocapital |
History
Hilco Capital was founded in London in 2000 as a joint venture between its management team and Hilco Global.[4][5]
In January 2005, Hilco Capital bought £90 million bank debt of Allders.[6]
In April 2013, Hilco Capital rescued entertainment retailer HMV/Fopp from administration, saving 141 branches.[7] In February 2019, the retailer was sold to Sunrise Records, but with Hilco Capital retaining and licensing the trademarks for HMV/Fopp and His Master's Voice as Mermaid (Brands) Limited.[8][9]
In May 2018, Hilco Capital rescued the home improvement chain Homebase for a nominal £1 from Wesfarmers, following a botched attempt to convert the stores to their Bunnings Warehouse format.[10] In August 2018, Hilco Capital announced a company voluntary arrangement (CVA) for Homebase, closing 42 of its 249 stores in an attempt to return it to profitability.[11] In February 2020, the retailer returned to profitability earlier than expected, and was listed for sale in November 2020.[12] In November 2024, Hilco Capital placed Homebase into administration following sustained losses with The Range, B&Q and Wickes purchasing certain assets.[13]
The firm have also rescued Denby Pottery Company, as well as Habitat, before selling to sold to Home Retail Group & Cafom).[14] Other deals include Tilley Endurables (Canada, sold to Gibraltar & Company), Glue Stores (Australia, sold to Accent Group), Anglia Crown (sold to BonCulina) and Cath Kidston Limited (sold to Next).[15][16]
Hilco Capital also acted as an advisor for Debenhams and Peacocks during their administrations, and also operated British Home Stores during their administration.[17][18] They have also provided funding for Superdry, French Connection, Gieves & Hawkes and David Jones.[19][20]
While the company was described in December 2018 by The Times as a vulture fund,[21] other media reports have described this narrative as ‘scapegoat-hunting desperation’.[22]
Awards
Hilco Capital was awarded Special Situations Debt Provider of the Year at the IFT Awards 2022.[23] The company also won the Turnaround of the Year Award at the Turnaround, Restructuring & Insolvency Awards (TRI) 2019.[24] It also won the Business Rescue of the Year award (£21-50m turnover) at the Insolvency & Rescue Awards 2009.[25]