Liverpool's Rapid Hardware enters administration
The bank of the family-run business, RBS, called in administrators from Duff and Phelps to take the business under their wing. Rapid’s managing director Martin Doherty wants a “white knight” investor to save Rapid Hardware.
Established for 40 years, the business operates from the George Henry Lee Building in Liverpool City Centre, formerly home to a John Lewis store. It sells all types of hardware for the home including bathrooms, flooring, doors, decorating and gardening products, as well as DIY and electrical appliances.
Mr Doherty is eager to hear from potential buyers to secure the business and the 90 employees’ positions.
He said: “Even at this stage we would be anxious to hear from investors who could help put together a rescue deal.
“I am talking about investors who would be prepared to sit down and discuss some kind of deal. This is not just about the management or simply about a great company. It is about looking after a workforce that is simply the best.”
It has been confirmed that the shop, which has over 100,000 sq. ft of retail space, is open for trading today.
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