Addleshaw Goddard advises Bridges Ventures on Clothingsites.co.uk investment
Online clothing retailer Clothingsites.co.uk is set to create more than 100 jobs after securing investment from Bridges Ventures in a deal advised by Addleshaw Goddard.
The Cheshire-based company, which operates three websites selling premium menswear, out-of-season stock at discounted prices and trainers and shoes, will mainly use the capital for stock, recruitment, technical upgrades and the relocation to a larger warehouse.
Clothingsites.co.uk is planning to create jobs for the local area, which is known for having high levels of unemployment.
A team from Addleshaw Goddard, led by corporate partner Mike Hinchliffe, advised investment firm Bridges Ventures on the deal.
Addleshaw Goddard previously advised Bridges on the sale of a majority stake in The Gym Group to Phoenix Equity Partners last year.
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The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.