Thu, 26 Apr 2018 | ADMINISTRATION
A firm based near Chester that sells bicycles and cycling accessories has called in the administrators with the aim of finding a new owner for the company.
Global Adventure Sport, founded in Tattenhall, near Chester, has appointed Patrick Lannagan and Conrad Pearson from Manchester firm Mazars to oversee the administration.
Though the firm’s creditors are hoping for a sale of property and assets in order to settle up matters, the administrators are prioritising selling on the company as a going concern.
A statement on Mazars’ website says: “Offers are invited from interested parties who are seeking to purchase the business, website/domain-name and assets as a whole in the first instance.
“In the event that no purchaser is sought, the assets will be auctioned by our agents in due course.”
Global Adventure Sport stopped trading earlier this year but still kept its cycle-selling website - globalbike.co.uk - alive and selling to customers from its leasehold offices and custom retail space in Tattenhall, which had recently benefited from a number of improvements.
The company’s main assets, say the administrators, are its “mature online presence” - which generates 60 per cent of its sales - and stock held.
The firm was established in 2009, selling cycles, accessories and parts and one of the UK’s largest dealers of several specialist brands, including Ghost Bikes, Lapierre and Nukeproof. It started as a family-run business started up by James Cooper, a mechanic, and his relatives.
The company also sponsored the WD40 Velocity indoor cycle race team in the 2013, when they rode Kona bikes that they provided.
A sign on the door of Global Bike’s offices simply reads: “Global Adventure Sports Limited in administration. Any queries to Mazars LLP”.
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
FREEHOLD
Car dealership operating as a Ford retail franchise from freehold premises. Offers a full range of facilities, including new & used car sales, service workshop & body shop, in addition to retailing fuel from an onsite petrol forecourt. Excellent free...
Design & installation of energy efficient kitchen schemes for the commercial food service industry. Also performs reactive repairs & planned maintenance of food service equipment. Planned maintenance contracts offer long-term recurring revenue stream...
|
24
|
|
Jan
|
Yorkshire engineering firm completes MBO deal | MBO/MBI
A West Yorkshire engineering group has been taken over by th...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
Sign up to receive our acquisition alert emails to get your FREE guide
|
14
|
|
Aug
|
Egg supplier enters administration | ADMINISTRATION
Egg producer Blackdown Hills Enterprises Limited has been pl...
|
17
|
|
May
|
London exteriors firm up for sale after administration | ADMINISTRATION
Both the business and assets belonging to a London-based con...
|
05
|
|
Jul
|
Buyer sought for construction machinery supplier in administration | ADMINISTRATION
A buyer is being sought for a construction machinery supplie...
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