// The footwear retailer owed creditors more than £100m ahead of a pre-pack deal by Authentic Brands Group
// Administrator AlixPartners said Hunter’s creditors are likely to receive the majority of the £112.8m due
The creditors of footwear retailer Hunter have been left £112.8m out of pocket after it was snapped up in a pre-pack deal.
Ted Baker owner Authentic Brands Group acquired the brand’s intellectual property earlier this month in a deal valued to be around £100m.
Administrator AlixPartners said the retailer had been struggling since 2019 due to reduced demand, supply chain disruption and inflationary pressures.
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According to its report, Hunter owed £98m to its US bank Wells Fargo, at least £11m to Goldman Sachs-backed investment fund Pall Mall Legacy and £140,747 to HMRC.
The secured creditors are likely to receive the majority of what they are owed, it said.
The retailer was put up for auction in March after it secured a £7m funding lifeline with existing shareholders injecting £5m into the business and lenders contributing a further £2m.
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