Morton Fraser advises FRP Advisory in proposed disposal of bakery
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Morton Fraser represented administrators FRP Advisory in the proposed sale to Finsbury Food Group of the business and assets of Glasgow-based Johnstone’s Just Desserts Limited (In Administration).
The Morton Fraser team, led by Iain Young (pictured) and Bruce Wood, and assisted by Nicola Ross, Sandra Hunter and Joel Conn provided advice to FRP on the sales process and contractual negotiations.
Completion of the acquisition is conditional on the finalisation of property lease details, which Finsbury hopes to complete as soon as possible.
The acquisition will save the jobs of 150 Scottish employees.
Mr Young, corporate partner at Morton Fraser said: “We are delighted to have the opportunity to work alongside the highly rated FRP team on this particularly challenging assignment.
“The deal arose as a referral from our strong connections with London law firms and in recognition of Partner Bruce Wood’s clear advice and vast experience in asset finance transactions.
“This is an important deal for the Morton Fraser restructuring and insolvency team, which has experienced an extremely busy start to 2015.”
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