Lawyers help shoe firm step into important markets

Feb 27 2008 by Iain Laing, The Journal

LAW firm Latimer Hinks has played a key role in an acquisition which has seen a well-known North East shoe retailer expand into important markets both in England and Scotland.

The Clinkard Group, has broadened its reach into new regions with the acquisition of 12 stores from Stead & Simpson. Following the acquisition the company will operate 34 outlets across the UK.

The deal presented a number of challenges for Darlington-based Latimer Hinks. Due to the complex nature of the acquisition and outside influences, the turnaround time from offer to signing contracts was only two weeks. Partners Neil Stevenson and Nick Poole worked tirelessly to ensure all legalities were completed in time.

Stevenson said: “This is an excellent acquisition for The Clinkard Group, which fully complements its existing business and strengthens its position in the market. The deal also gives Clinkards the opportunity to bring its brand strengths to new markets.”

Poole, said: “It is a simple fact of business that sometimes things have to be done more quickly than normal, so you have to be prepared to push through a job like this. What is most pleasing is that it is for such an important client where Latimer Hinks also assists with the family’s private affairs so it was imperative that we pulled out all the stops.”

Managing director of The Clinkard Group, Charles Clinkard, said: “We are an ambitious, forward-thinking organisation and the expansion takes our presence into untapped areas of the country. As a result of this acquisition The Clinkard Group is well-positioned in many of the key markets and can continue its growth strategy from a position of strength.”