BURLEIGH

Background

Family-owned pottery manufacturer, Burleigh, had been hand making its unique, tissue printed ceramics in Stoke-on-Trent for over 150 years. In more recent years, Burleigh had been the victim of a major employee fraud, forcing the business into a Company Voluntary Arrangement in 2008.

Despite marketing the company for sale for almost two years, Burleigh’s owners and advisers had failed to achieve a going concern sale. By 2010, it was likely that the business would be forced to cease trading, leading to the loss of 50 skilled jobs and the closure of a unique heritage business of national importance.

Hilco Capital’s role

• Worked with Denby, another Hilco Capital investment in the sector, to acquire the business
• Senior Hilco team appointed to non-exec roles to act as sounding board for management
• Provided emergency funding post-acquisition to stabilise the business
• Worked with the company to resolve outstanding and disputed creditor claims
• Designed revised restructuring proposal for creditors, leading to successful CVA exit
• Worked with heritage bodies to secure the future of Burleigh’s Middleport Pottery home, the last working Victorian pottery in Stoke-on-Trent

Results

• Secured 50 skilled jobs, preserving 200-year-old artisanal production techniques
• Factory output doubled through Denby’s expertise
• New sales channels in the UK, USA and Far East through Denby affiliation
• Distribution to key retail customers including Fortnum & Mason, John Lewis and Harrods maintained
• Supply of exclusive ranges to restaurants including Soho House and The Ned
• Completed sale and leaseback of Grade 2* listed Middleport Pottery to the Prince’s Regeneration Trust
• PRT’s renovation of Middleport transformed excess space into leading visitor attraction