Hilco Capital

Hilco Capital Limited^[1] is a British financial investment and restructuring advisory company, operating in the UK, Western Europe, Canada and Australia.^[3]

Hilco Capital Limited

Formerly	Petherrace Limited (2000–2001)[1] Hilco UK Limited (2001–2013)[1]
Company type	Limited
Industry	Investment, finance, restructuring
Founded	March 10, 2000; 25 years ago (2000-03-10) in London, England[2]
Headquarters	London , United Kingdom[1]
Area served	UK, Western Europe, Canada, Australia
Services	Turnaround investing, lending, restructuring services
Parent	Hilco Global
Website	hilcocapital.com

History

Hilco Capital was founded in London in 2000 as a joint venture between its management team and Hilco Global.^[4][5]

In April 2013, Hilco Capital rescued entertainment retailer HMV/Fopp from administration, saving 141 branches.^[6] In February 2019, the retailer was sold to Sunrise Records, but with Hilco Capital retaining and licensing the trademarks for HMV/Fopp and His Master's Voice as Mermaid (Brands) Limited.^[7][8]

In May 2018, Hilco Capital rescued the home improvement chain Homebase for a nominal £1 from Wesfarmers, following a botched attempt to convert the stores to their Bunnings Warehouse format.^[9] In August 2018, Hilco Capital announced a company voluntary arrangement (CVA) for Homebase, closing 42 of its 249 stores in an attempt to return it to profitability.^[10] In February 2020, the retailer returned to profitability earlier than expected, and was listed for sale in November 2020.^[11] In November 2024, Hilco Capital placed Homebase into administration following sustained losses with The Range, B&Q and Wickes purchasing certain assets.^[12]

The firm have also rescued Denby Pottery Company, as well as Habitat, before selling to sold to Home Retail Group & Cafom).^[13] Other deals include Tilley Endurables (Canada, sold to Gibraltar & Company), Glue Stores (Australia, sold to Accent Group), Anglia Crown (sold to BonCulina) and Cath Kidston Limited (sold to Next).^[14][15]

Hilco Capital also acted as an advisor for Debenhams and Peacocks during their administrations, and also operated British Home Stores during their administration.^[16][17] They have also provided funding for Superdry, French Connection, Gieves & Hawkes and David Jones.^[18][19]

While the company was described in December 2018 by The Times as a vulture fund,^[20] other media reports have described this narrative as ‘scapegoat-hunting desperation’.^[21]

Awards

Hilco Capital was awarded Special Situations Debt Provider of the Year at the IFT Awards 2022.^[22] The company also won the Turnaround of the Year Award at the Turnaround, Restructuring & Insolvency Awards (TRI) 2019.^[23] It also won the Business Rescue of the Year award (£21-50m turnover) at the Insolvency & Rescue Awards 2009.^[24]