13 September 2018

The Swedish firm, Aligro Group, which now owns Henri Lloyd, has announced it is re-launching the brand in 2019 with a new range of products.

It said the new collection would see 25 styles for men and women. The products are adapted for one design sailing, keel boats and superyachts, with a focus on Northern European and Mediterranean sailors.

Aligro has also announced that it will be reducing the number of retailers selling Henri Lloyd products to reflect changes in the market. It currently owns stores at Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington.

Magnus Liljeblad, CEO of the Henri Lloyd Group said this would be more successful than Henri Lloyd’s previous model, where many re-sellers sold principally at a discount.

‘It is no secret that the marine clothing sector and its associated wholesale business has undergone major change worldwide and it appears that trend will continue. One of the anticipated consequences is that the number of retailers will reduce significantly in the coming years,’ he said.

‘Our market analysis is strong and tells us that there is a large market potential for customised sailing garments that allow crews to create their own identity. For too many years now, when you attend a regatta or round the cans mid-week racing you simply see clothing in a small range of colours dominated by shades of black and grey with technical clothing from many brands looking too similar,’ continued Liljeblad.

‘We strongly believe that we should break that trend and there are many opportunities to grow in the one design and dinghy markets by relooking at everything from design, fit, fabrics, colours and other ways of customisation that Henri Lloyd is uniquely placed to deliver,’ he added.

Henri Lloyd has also announced it will be launching a new dinghy programme in 2020 to ‘meet the needs from grassroots levels to the elite sailor’.

The brand, which was co-founded in 1963 by Henri Strzelecki and Angus Lloyd, is known for embracing new technologies and textiles, and was one of the first companies to use Gore-Tex.

It has also played a significant role in supporting British sailing, sponsoring the likes of Sir Ben Ainslie and Shirley Robertson in their Olympic campaigns. It has been the technical clothing supplier for the Clipper Round the World Race since 2002 and for Land Rover BAR’s 2017 America’s Cup bid.

Henri Lloyd went into administration in June 2018, blaming  ‘challenging trading conditions on the high street’. The move left 128 staff redundant. Four stores in Falmouth, Truro, Street and Swindon also closed, along with the 20 House of Fraser concessions.

The firm had previously taken steps to reduce costs and divest assets in an attempt to stem its financial loses, selling Henri Lloyd brand and trademarks to Aligro Group in March 2018.

8 June 2018

Plans have been announced to save the sailing clothing brand Henri Lloyd, after it was put into administration on Friday 8 June. Five stores, some stock and other assets have been acquired by Swedish investment group Aligro Group, which already owned the rights to the brand and its trademarks.

So far, the news means that stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington will continue to trade, securing the jobs of 38 store staff and six head office employees. 128 other staff in the Henri-Lloyd headquarters in Manchester, in 20 House of Fraser concessions and in four closed stores in Falmouth, Truro, Street and Swindon have, however, all been made redundant.

RSM Restructuring Advisory were appointed administrators of Henri-Lloyd Limited on 8 June after the company was forced to enter administration as a result of ‘challenging trading conditions on the high street.’

In a statement, Chris Ratten, RSM Restructuring Advisory partner and one of the Joint Administrators said: ‘We are pleased to have secured the sale of certain stores and assets to Aligro UK Limited. This sale represents the best outcome for creditors, it maintains Henri-Lloyd’s presence in key locations and secures 44 jobs. Selling the whole business as a going concern was not a viable option and regrettably a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.’

The statement continued: ‘It was with great regret that Henri Lloyd was put into administration last Friday. The company had experienced difficulties and sought additional financial backing for some time. A Swedish investor, the Aligro Group, recently came on board as lenders but could unfortunately not remedy the difficult financial situation. Aligro, that already own the rights to the brand and trademarks, now also have closed a transaction with Henri Lloyd’s administrator to obtain five stores, certain stock and other assets as a stepping stone to reviving the classic British fashion label.
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Hans Eckerström, founder and manager of the Aligro Group, said, ‘I am a passionate sailor and Henri Lloyd is a brand that always have had a special place in my heart. Now that we get the opportunity, I’m committed to carry the heritage of the brand further and upgrade it to reach its full potential.

‘This acquisition maintains Henri Lloyd’s presence in key locations and creates a great base for taking this iconic brand to new heights. I have great hope that we can come back shortly with more positive information to customers, partners and Henri Lloyd fans around the world and present a plan for the future.’

The statement from Aligro Group continued:

‘In recent years Henri Lloyd has fought against challenging trading conditions on the high street. Great endeavours to secure the company’s future have been underway, including efforts to reduce cost, refinance the business and divest assets.

‘In March 2018 Aligro Group agreed to acquire the Henri Lloyd brand and trademarks, with significant financial commitments to revitalize the brand. Aligro formed a new brand team headed by Magnus Liljeblad with vast experience from retail and fashion, complemented by specialists within global expansion, product design and e-commerce. The first step was to act as lenders to meet urgent financial needs and continue operations. Unfortunately, the situation continued to worsen, and filing for administration became inevitable.’

RSM Restructuring Advisory was appointed adminstrators for sailing clothing and fashion brand Henri Lloyd on Friday afternoon, 8 June. Shops ceased trading over the weekend, before today’s announcement that five stores remain open.