{"id":679878,"date":"2026-07-08T06:31:17","date_gmt":"2026-07-08T06:31:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/679878\/"},"modified":"2026-07-08T06:31:17","modified_gmt":"2026-07-08T06:31:17","slug":"le-col-owners-write-off-millions-of-debt-in-pre-pack-administration-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/679878\/","title":{"rendered":"Le Col owners write off millions of debt in pre-pack administration deal"},"content":{"rendered":"

\"Le<\/p>\n

Industry<\/a><\/p>\n

Le Col’s owner Head has bought the brand out of administration itself, wiping away more than \u00a35.1 million of debt owed to itself and preserving 13 jobs but leaving smaller creditors out of pocket.<\/p>\n

\"Suvi<\/p>\n

In the latest twist for the troubled apparel brand, Le Col has been sold out of administration to Head UK Ltd, essentially the same company that bought the British cycling apparel brand less than five months ago in February. The administration deal (similar to a bankruptcy sale in the US) wipes out some \u00a35.1 million in debt owed to Head, and another \u00a33.1 million to other creditors.<\/p>\n

Head already owned Le Col before the pre-pack deal, so this wasn’t really a case of a new buyer stepping in. The existing owner, Johan Eliasch, remained in control throughout a deal finalised on 23 June 2026, according to documents seen by Escape Collective.<\/p>\n

The deal means that many external creditors \u2013\u00a0including small business owners Escape Collective has spoken to \u2013 expect to receive nothing while the company carries on trading as usual. It also leaves Le Col with headwinds like a \u00a31 million bank loan and significant unsold inventory, and raises questions about what will change going forward to prevent its troubles from recurring.<\/p>\n

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