Household brand Bensons for Beds has bought out the Eve Sleep brand after it collapsed into administration earlier this year.

The mattress maker had drafted in administrators from Kroll Advisory after it failed to secure a solvent sale of the business.

Working with joint administrators Matthew Ingram and Jimmy Saunders, the Shakespeare Martineau restructuring, insolvency and IP team had to act fast to complete this complex and time critical matter, which include the takeover of Eve Sleep’s brand, website and intellectual property.

Andrew Taylor, head of restructuring at Shakespeare Martineau led the matter, he said: “We had to work really quickly on this deal, with just five working days to get it in place.

Given ongoing market uncertainty and the cost of living crisis, we expect to see insolvencies growing in most sectors including retail with larger brands looking for opportunities to swoop in and consolidate the market.

Nick Collard, chief executive of Bensons, told The Times the Eve Sleep brand will help the group “appeal to a broader set of customers”.

He added: “Eve Sleep is a brand that we know resonates strongly with key customer groups and we’re looking forward to unlocking its full potential as it takes advantage of our scale and reach.

The insolvency team also included Sean Moran, Sheena Tandy, Chris Neale and with specialist IP support from Carys Thompson.

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Andrew is head of our restructuring, recoveries and insolvency team. He advises on all aspects of insolvency.

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Published: 20th October 2022
Area: Corporate Restructuring & Insolvency

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