Lily Ella saved from liquidation23/10/2023
An innovative North East ecommerce agency has saved an online women’s clothing brand from closure, thanks to legal support from a leading law firm.
The purchase was supported by the corporate team at Newcastle-based Mincoffs Solicitors, with the sale set to create multiple job opportunities with the company as it scales.
And the move means good news for consumers, with the business back open and trading under its new ownership.
Andy Robinson, chief operating officer at Venture Stream, said: “We worked with the previous team at Lily Ella for many years and, alongside thousands of loyal customers, we were sad to see it fall into liquidation.
“Thankfully, with help and advice from Mincoffs and our team of ecommerce experts, we were able to quickly secure a deal to purchase the business and bring the brand back to life.”
Daniel Bell, associate solicitor in Mincoffs’ corporate team, advised Venture Stream on the transaction.
“Lily Ella has been trading since 2014 and has a solid customer base, so it provides a great opportunity for the Venture Stream team to breathe new life into the business,” said Daniel.
“It was a pleasure to support Vic and Andy on the acquisition and I look forward to working with them again in the future.”
Mincoffs Solicitors has provided expert legal services and advice across the North East and beyond for 75 years.
Alongside corporate and commercial services, the firm’s offering includes real estate, dispute resolution, employment law, licensing and gaming, residential conveyancing, family law and wills, probate and trusts.