Rcapital win deal of the decade

19/10/2017

Yesterday evening the turnaround industry recognised and celebrated the outstanding firms, teams and individuals in their respective fields of turnaround, funding, corporate restructuring, insolvency and personal debt advice.

This year, to mark the 10th anniversary of the TRI Awards programme, the decision was taken to award those widely recognised for their role in ten of the most prominent, outstanding turnaround case studies of the past decade. 

Chris Campbell, Rcapital’s investment director, accepted the ‘Turnaround of the Decade’ award at the ceremony held on 18 October 2017 at the London Hilton Park Lane for the Tie Rack / Rolling Luggage transaction.

Rcapital acquired loss making Tie Rack, which included the Rolling Luggage brand, in September 2013. A period of intense global restructuring ensued, which rescued the Rolling Luggage business from the closure of the Tie Rack store portfolio and then transformed its retail proposition in just twelve months. In February 2015, Rolling Luggage was sold to Samsonite, the world’s largest luggage brand, for €20.3m (£15.7m).

“The success of this investment can be attributed to the winning combination of restructuring and retail skill, teamwork, energy and sheer tenacity throughout a very challenging period. I’d like to thank everyone for the hard work and dedication that they have shown over the 3 years, without whom this fantastic achievement would not have been possible.”

Jamie Constable, CEO at Rcapital

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