The company held a franchise with a major UK mobile telephone network and operates three retail shops, one in Central London and two in East London. The business has been bought by a larger franchisee of the same mobile network.
The sale was structured as a share sale which allowed the seller to benefit from entrepreneurs relief. Krishen Patel, an Associate in the Corporate and Commercial team advised the seller on all aspects of the transaction with the assistance of Joanne Gallagher (Corporate Partner), an Employment Partner and Alex Lewsley (Commercial Property Senior Associate).
Commenting on the sale, Joanne said: “We are pleased to have completed this deal which allowed our client to achieve a clean break from the business and focus on other business interests.”
The financial details of the deal were undisclosed.