Cleary Gottlieb Steen & Hamilton has taken the lead advisory role on the administration of fashion retailer Republic, the latest in a string of UK high street collapses this year.

London partners David Billington and Simon Jay are leading a team advising private equity firm TPG, which acquired Republic for £300m from Change Capital Partners in 2010. Jay (pictured) also acted as the lead adviser to long-term client TPG on that deal.