Swansea Law Firm Facilitates Purchase of Beloved Retailer
Peter Lynn and Partners Solicitors have acted for the new owner of the Solo clothes shop in Mumbles in a successful transition of ownership which sees the much-loved retail shop begin a new chapter.
Helen Bowden, the new owner, bought the business from Lynne Kettles, who started the company over 40 years ago, choosing the name Solo to reflect the fact she was going it alone.
As long-time friends, when Lynne discussed her retirement plans, the opportunity presented itself for Helen to buy the business and continue its reputation as one of the leading ladies’ fashion stores in Swansea.
“I’ve known Lynne for years and recently began helping to build Solo’s social media profile and learning the workings of the business, so was in a good position when the opportunity arose.”
With a plan in place, the next stage was to appoint solicitors to handle the transaction, and that’s where James Lewis-Hyndman and Alex Kurtz-Shefford of Peter Lynn and Partners stepped in.
“We met with Helen to understand the details of the purchase in order for us to transfer ownership of the business in a manner that was quick, yet thorough,” said company and commercial lawyer James.
With factors such as the TUPE of the 4 existing employees, transfer of lease for the property as well as matters relating to the brand, stock and more, there were multiple factors to consider.
“Transactions such as this are exciting, yet fraught with potential pitfalls, so due diligence and a methodical approach are key,” said commercial property lawyer Alex, who dealt with the Landlord as part of the deal.
With the initial instruction from Helen taking place in June, the deal was sealed by September in line with her wishes and Solo had a new owner at the helm.
“James and Alex were fantastic to deal with,” reflected Helen. “They put me at ease throughout the entire process and were on hand to answer any questions we had and I would highly recommend the services of Peter Lynn and Partners.”