Slaughter and May advised The Watches of Switzerland Group on its entry into a new £45m facilities agreement guaranteed under the UK Government’s Coronavirus Large Business Interruption Loan Scheme

Slaughter and May advised The Watches of Switzerland Group on its entry into a new facilities agreement which is guaranteed by the UK Government under its Coronavirus Large Business Interruption Loan Scheme (“CLBILS”).

The Watches of Switzerland Group is the UK’s largest luxury watch retailer, operating in both the UK and the US. The new facilities agreement is part of the measures being taken by The Watches of Switzerland Group to further strengthen its liquidity position in response to the disruption arising from the COVID-19 pandemic.

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised on matters of New York and Delaware law, Brownstein Hyatt Farber Schreck advised on matters of Nevada law and Holland and Knight advised on matters of Florida law.