Administrators seek buyer for Liverpool hardware shop Rapid

Tue, 09 May 2017 | ADMINISTRATION

Administrators appointed to struggling Liverpool DIY store Rapid Discount Outlet are seeking a buyer for the business.

Rapid, based on Basnett Street near the city’s St Johns Shopping Centre, opened in 2013 after previous company Rapid Hardware collapsed.

Administrators Duff & Phelps said the shop would continue to trade while a buyer for the business and its assets is sought.

Rapid sells a wide range of DIY and household items, including garden furniture, power tools, lighting, flooring and furniture.

According to the Liverpool Echo, the original Rapid Hardware was established in 1971 and was a popular destination for shoppers.

In 2010 it moved from its Renshaw Street site to Basnett Street before falling into administration in 2013, with more than 100 staff losing their jobs. Weeks later its former owners reopened the store as Rapid Discount Outlet.

The Echo reported that staff had been told that Rapid had fallen into administration with its affairs being handled by Duff & Phelps, with managing directors Philip Duffy and Sarah Bell appointed joint administrators.

In a statement they said: “The administrators are reviewing the financial position of the business, with a view to continuing to trade to enable the business and assets to be sold.”

See the latest businesses in administration.

Subscribe to the Business Sale Report here.


Share this article



Latest Businesses for Sale

Indoor Activity Centre
Warwickshire, UK Wide

Well established and impressive children’s indoor activity centre. Prominent and accessible trading position, excellent reputation. Superbly presented throughout, 70 covers, car parking, retirement sale. The business has a thriving 100 cover café wit...

Asking Price: £450,000
Turnover: £306,000

LEASEHOLD


Day Nursery
Yorkshire and the Humber, UK

Highly impressive detached children’s day nursery (Reg 40 children). Sought after and accessible setting, truly enviable reputation, Ofsted rating ‘Good’. Superbly presented, potential living accommodation, viewing recommended. This is a rare and exc...

Asking Price: £595,000
Turnover: £344,207

FREEHOLD


Nursery
Scotland, UK

The nursery operates 7.30 am – 6.00pm, 50 weeks of the year. The nursery occupies the entire ground floor, along with extensive outdoor play areas and a garden. The main entrance is from the front via a secure door entry system, with secure entry sys...

Asking Price: £650,000
Turnover: £478,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Nov
 

Kitwave acquires Alpine Fine Foods | BUSINESS SALE

Independent wholesaler Kitwave has acquired Alpine Fine Food...

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
05
 
Feb
 

Furnishings company enters administration | ADMINISTRATION

Burnley-based manufacturer and designer of home furnishings,...

 
02
 
Feb
 

High street wine retailer Oddbins enters administration | ADMINISTRATION

Off-licence chain Oddbins has gone into administration. Its ...

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources