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

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
19
 
Sep
 

Smith & Williamson and Tilney to merge | MERGER

After revealing in August this year that talks were in place...

 
18
 
Sep
 

Infrastructure investment manager takes stake in LJLA | BUSINESS SALE

Infrastructure investment management group, Ancala Partners,...

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