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ABL advises on PAS Group sale, saving Aussie retail brands and 1000 jobs

Corporate and M&A, Restructuring & Insolvency
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Arnold Bloch Leibler (ABL) has advised the administrators of fashion retailer PAS Group on its sale to private equity firm, Queens Lane Capital.

The PAS Group operates Australian retail brands such as Review and JETS Swimwear, and was placed into voluntary administration in May this year.

A cross-practice ABL team - consisting of partners Leon Zwier, Ben Mahoney and Stephen Lloyd and senior associate Laura Cochrane - acted for the administrators Stephen Longley, David McEvoy and Martin Ford of PwC.

As reported in the press, the sale of PAS Group is expected to save around 1000 Australian jobs. PwC's Stephen Longley commented: "The Australian retail sector continues to face many challenges. We're confident that the ongoing restructure of The PAS Group will place all PAS businesses in the best position to overcome those challenges."

ABL Partner Ben Mahoney said the team was proud of the outcome achieved for PAS Group: "We're so pleased to have been involved in this retail success story and look forward to seeing how the business takes advantage of new opportunities as a result of the restructure".

About Arnold Bloch Leibler

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.

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