We felt that if we were able to avoid administration there would be a softer impact on the NHS supply chain - the Medalin subsidiary, for example, is the UK's leading manufacturer of prosthetic socks - and therefore less chance of business disruption than would inevitably be the case with an administration. We proposed a voluntary arrangement to restructure the core business of the group, which, once agreed with key stakeholders, would avoid administration for all three companies, maintain business continuity for customers and help to safeguard 70 UK-based manufacturing jobs. The restructuring and subsequent acquisition would not have been possible without the collaborative efforts of key stakeholders, including HSBC, which provided support to the group whilst the restructuring programme was implemented.

Azher Quyoom - Partner, Andrew Jackson Solicitors LLP advise H&R healthcare on acquisition of pretty legs holdings