Elaine Nolan

Elaine advises companies, directors, administrators, and liquidators on complex and high-value financial restructurings, administrations, and distressed disposals and acquisitions across multiple jurisdictions.

• Advised KR8 Advisory on the administration of CCM Motorcycles Group.
• Advised an international creditor in relation to Enzen’s Part 26A Restructuring Plan.
• Advised AlixPartners as administrators and liquidators of the Ilke Homes modular homes group.
• Advised BDO as administrators of Le Pain Quotidien’s UK operations.
• Advised AlixPartners as administrators of the Casual Dining Group (Bella Italia, Café Rouge and Las Iguanas).
• Advised PWC as administrators of Mothercare and its pre-pack administration sale.
• Advised Deloitte as administrators of Mamas & Papas and its pre-pack administration sale.
• Advised Moorfields as administrators of Toys R Us and oversight of proceedings internationally.
• Advised Deloitte as administrators of the Harkand Group, an oil and gas services business.
• Advised The Colson Group, a Sentinel Capital Partners portfolio, on the acquisition of assets from its UK business, in administration.
• Advised Tele Columbus, a leading German cable network operator, in relation to its financial restructuring and schemes of arrangement.
• Advised Wilmington Trust in its capacity as agent as part of the Estro Group’s financial restructuring.
• Advised European Directories in relation to its subsequent c.€800 million financial restructuring, resulting in majority control by Triton Partners.
• Advised Certain Bondholders of the Petroplus Group in relation to the Group’s US$1.75 billion senior and convertible bonds and local insolvency filings across Europe.
• Advised Regency Entertainment Leisure & Tourism S.A., a Greek casino business, in relation to its c.€600 million consensual financial restructuring with its senior and mezzanine lenders and sponsor, BC partners.
• Advised European Directories, a Netherlands-based local search and lead generation company, in relation to all aspects of its €2.1 billion financial restructuring across eight jurisdictions in Europe.

Elaine advises clients in the travel industry on restructuring and insolvency matters, supporting regulators and operators on complex financial and operational challenges, including licensing issues and high-profile airline and travel business restructurings.

• Advised the International Currency Exchange group, in relation to its airport and retail operations throughout Europe and the US.
• Advised the Civil Aviation Authority on a number of ATOL-related licencing matters relating to the administration of the Thomas Cook group in 2019, which resulted in the largest ATOL repatriation in UK history.
• Advised the Civil Aviation Authority in relation to the administration of the Monarch Airlines Group.
• Advised the Civil Aviation Authority in relation to the financial and operational restructuring of the Thomas Cook Group in 2012.

Elaine advises on restructuring and insolvency matters in the food and beverage sector, guiding major restaurant and hospitality groups through financial restructurings, CVAs, and distressed disposals and acquisitions.

• Advised Le Pain Quotidian in relation to options to restructure its UK business.
• Advised Casual Dining Group (Bella Italia, Café Rouge and Las Iguanas) in relation to options to restructure the business.
• Advised The Euro Garages Group (EG Group) in relation to its proposal to acquire the Caffé Nero group, subject to a Company Voluntary Arrangement.
• Advised Pizza Express, a significant casual dining group which operates over 400 restaurants in the UK, in relation to the successful approval of its CVA.
• Advised Prezzo, an Italian restaurant chain, in relation to its CVA.
• Advised Agrokor, a leading Croatian food, manufacturing distribution and retail business in relation to its financial restructuring.
• Advised the Tragus Group in relation to its financial and operational restructuring, including its CVAs relating to Café Rouge Restaurants and Bella Italia Restaurants.

Elaine advises clients across the retail sector on complex financial and leasehold restructurings, acting for leading retailers and groups in this challenging and fast-moving sector.

• Advised Gordon Brothers, as new investors and owners of Poundland, an iconic retailer with over 800 sites across the UK, in all aspects of its Part 26A Restructuring Plan, which was successfully approved by the High Court in August 2025.
• Advised Homebase in 2023, the UK’s leading home improvement and garden retailer, in relation to all options available to restructure the business and directors’ duties advice. Prior to this, Elaine led the restructuring of Homebase in 2018 upon acquisition by Hilco Capital, utilising a CVA and again in 2020, via a material variation to its CVA.
• Advised WeWork, the global office space group, in relation to all aspects of its UK lease portfolio and options for the UK and international Group.
• Advised JUUL UK, the e-cigarette and vaping business, following the threat of a suspension on the sale of its products in the US by the FDA.
• Advised the Wilko Retail Group, on all aspects of its proposed lease restructuring, including a proposed Company Voluntary Agreement.
• Advised The National Car Parks group, in relation to all aspects of its proposed restructuring of its leasehold estate including structuring and proposing a Part 26A Restructuring Plan.
• Advised the Ann Summers Retail group in relation to its Company Voluntary Arrangement to address its UK leasehold obligations.
• Advised All Saints Retail, a global retail group, in relation to the successful approval of its CVAs (including the first-ever landlord CVA to be recognised in the US via Chapter 15 and in Canada via the CCAA recognition process).
• Advised Mamas & Papas group in relation to its restructuring and pre-pack administration to the group.
• Advised Mothercare Group in relation to its restructuring and administration sale of its franchise and brand business to the Group.
• Advised the committee of Debenhams’ bondholders (who became lead shareholders) in relation to its Company Voluntary Arrangement.
• Advised Paperchase, one of the UK’s leading card and stationery retailers, in relation to its Company Voluntary Arrangement and its wider financial restructuring involving the first shift to turnover rents within a CVA.
• Advised AS Adventure Group and portfolio retail company of PAI Partners, in relation to its Company Voluntary Arrangement. The UK business is one of the leading multi-brand retailers of outdoor clothing and equipment in Europe, comprising Cotswold Outdoor, Cycle Surgery, Runners Need, and Snow & Rock.
• Advised a significant bondholder group of retailer House of Fraser in relation to its Company Voluntary Arrangements.
• Advised Moorfields Advisory, as administrators of Toys ‘R’ Us.
• Advised Toys ‘R’ Us in relation to its Company Voluntary Arrangement and all aspects of its restructuring.
• Advised BCBG Max Azria, a global apparel retailer and manufacturer, in relation to its French proceedings.
• Advised Sun Capital Partners on the purchase of assets from bed retailer Dreams, via a pre-pack administration.
• Advised Sun European Partners on the restructuring of its European portfolio business in the retail sector.

Elaine advises hotel, hospitality and leisure clients on financial and leasehold restructurings, CVAs, Part 26 A Restructuring Plans, schemes of arrangement, and distressed disposals and acquisitions.

• Advised The Cineworld group, one of the leading cinema chains in the UK, on its financial and leasehold restructuring, implemented by four Part 26A restructuring plans. This included successfully defeating landlord challenges, including a late injunction application and obtaining sanction of the Plans, to override previous contractual agreements.

• Advised Travelodge, the UK’s largest independent hotel brand, in relation to all aspects of its restructuring, including obtaining a ground-breaking injunction in the High Court to restrain winding-up petitions and in all aspects of its Company Voluntary Arrangement.
• Advised investors to LA Fitness, on its Company Voluntary Arrangement.
• Advised Fitness First, a leading health club and gym operator, on its c.£600 million financial and operational restructuring including a Company Voluntary Arrangement and scheme of arrangement.
• Advised Regency Entertainment Leisure & Tourism S.A, a Greek casino business, in relation to its c.€600 million consensual financial restructuring with its senior and mezzanine lenders and sponsor, BC partners.

Recognised by Chambers Global for Restructuring & insolvency 2026

Recognised by Chambers UK for Restructuring & Insolvency 2024–2026

Recognised by The Legal 500 as a Leading Partner for Corporate Restructuring & Insolvency 2026

Recognised by IFLR Women Leaders 2024

Recognised by The Legal 500 as a Leading Individual for Restructuring/Insolvency 2023

Recognised by IFLR1000 Women Leaders 2023

Recognised by IFLR1000 as Highly Regarded for Restructuring/Insolvency 2022

Recognised by Chambers UK for Restructuring/Insolvency 2021

Recognised by The Legal 500 UK for Restructuring/Insolvency 2021

Named “Corporate Restructuring Lawyer of the Year” at the Turnaround, Restructuring & Insolvency Awards 2020

Recognised by The Lawyer Hot 100 as one of the ‘best lawyers in business’ 2016

Named in the 40 under 40 list for the world’s leading restructuring specialists aged 40 and under by The Global Restructuring Review 2016

Co-Editor of Company Voluntary Arrangements – Law & Practice (OUP, 2022)