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Burges Salmon secures Savalas sale

16 Sept 2024Announcements

Burges Salmon’s Restructuring team facilitates pre-pack sale ensuring continuity for Glasgow’s Savalas Limited

Burges Salmon, a leading UK law firm, has successfully advised Savalas Limited, a Glasgow-based film and TV post-production facility, on the pre-pack sale of its business and assets. The firm worked closely with Savalas’ joint administrators, Paul Dounis and Gareth Harris of RSM UK Restructuring Advisory, to ensure a smooth transition and continuity of services.

The sale, finalised through a pre-pack arrangement, preserved existing projects and contracts, crucial for maintaining operations within Scotland's significant creative sector. The Scottish Government recognises this sector for contributing over £5 billion annually to Scotland’s economy.

Burges Salmon’s Restructuring team, led by partner Emily Scaife and directors Nick Middleton and Amy McVey, played a pivotal role in the transaction. Their efforts ensured that the sale was completed swiftly, minimising disruption and securing ongoing business operations for Savalas.

Nick Middleton emphasised the collaborative nature of the transaction, noting, “Working closely with Savalas and RSM UK allowed us to facilitate a quick sale, ensuring business continuity and supporting Scotland’s creative industry.”

Paul Dounis of RSM UK highlighted that the pre-pack sale to the management team enables Savalas Post Limited to continue its operations from its established location at Film City Glasgow. This development is a significant boost for the local creative economy and reinforces the firm's reputation in handling complex restructuring matters.

Legal News desk contact: editorial@solicitorsjournal.com

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