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.
Strong second-tier management team. Operates from two freehold premises. Offered for sale to facilitate continued growth under the impetus of a new owner. Offers invited.
FREEHOLD
The spacious property is a Grade II listed building and was built in approximately 1470's. Excellent trading position, in a sought after location.Business has been in the same hands for the past 18 years with genuine reasons for sale. Substantial loa...
LEASEHOLD
A rare opportunity to purchase a micro-brewery and public house with a loyal local, regional and national following. Established more than 200 years ago to supply quality ales to the community of this market town, the brewery and pub continues the tr...
FREEHOLD
|
21
|
|
Feb
|
Street food catering firm seeks buyer after entering administration | ADMINISTRATION
Shrewsbury-based catering company MPM Catering has entered a...
|
20
|
|
Feb
|
Heycar acquires HonestJohn.co.uk following administration | BUSINESS SALE
Online used car service Heycar has purchased the independent...
|
19
|
|
Feb
|
On-demand laundry app snapped up after administration | BUSINESS SALE
Laundrapp, an on-demand laundry service which was touted as ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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 ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources