 | |
| 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 |
Hilco Capital Limited [1] is a British financial investment and restructuring advisory company, operating in Western Europe, Canada and Australia. [3]
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]
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]