Law firm Shoosmiths has successfully advised on the restructuring plan for OutsideClinic, a leading UK provider of in-home eye and hearing tests. The court-sanctioned plan, approved on March 28, 2025, marks a significant development in UK restructuring case law.
The restructuring plan was initiated in response to financial challenges faced by OutsideClinic, stemming from the COVID-19 pandemic and strategic acquisitions that adversely affected revenue. The plan, which garnered strong support from creditors, including HMRC, aims to secure a stable financial future for OutsideClinic. This case is particularly notable as it marks one of the first times HMRC has voted in favour of a Restructuring Plan, a significant development in the mid-market where such plans have been limited due to perceived costs of defending HMRC challenges.
Experts from the Shoosmiths Corporate Restructuring and Advisory team advised on the plan, led by partner Sarah Teal, with support from legal director Charles Williams, principal associate Hannah Gaskell, senior associate Sarah Minshull and Real Estate trainee solicitor Amber Boydell.
Will Wright, UK CEO of Interpath, said: "Historically, HMRC has taken a conservative stance in restructuring processes, often opposing plans where their preferential creditor status might be compromised. However, in this instance, the alternative scenario offered no return for preferential creditors, making the plan the best available outcome. This marks a shift in HMRC’s approach and could signal a greater willingness to engage constructively in future Restructuring Plans."
Shoosmiths’ Sarah Teal said: “We are proud to have advised OutsideClinic on this significant restructuring plan. The court's approval is a testament to the collaborative efforts of all parties involved and ensures a stable financial future for the company. This case highlights the importance of innovative restructuring solutions in navigating financial challenges and setting a precedent for future mid-market restructurings.”
Shoosmiths’ Corporate Restructuring advisory team has extensive experience in handling complex restructuring plans, providing clients with strategic advice and support to navigate financial challenges and achieve successful outcomes.
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This information is for general information purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. Please contact us for specific advice on your circumstances. © Shoosmiths LLP 2025.