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”.
This is a well established and well used local post office situated in a densely populated area of East London. The area surrounding the business is extremely busy through the week and weekends due to the travel links and leisure facilities close by.
LEASEHOLD
Offers an extensive selection of quality products, including pitched and flat roof windows, composite and uPVC windows and doors, and roofing products. Works with leading manufacturers to supply premium, branded products, many of which are exclusive...
FREEHOLD
The company has established a respected brand, offering an extensive selection of e-cigarettes, vapes, refills and accessories, with all ingredients, flavours and e-liquids being made the UK. Benefits from a loyal and long-standing customer base, pre...
LEASEHOLD
15
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
14
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
13
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
Sign up to receive our acquisition alert emails to get your FREE guide
06
|
May
|
Cheshire-based wholesaler goes into administration | ADMINISTRATION
Cheshire-based wholesaler Scott Brothers Limited (SBL) has g...
15
|
Apr
|
Bristol-based transport training company goes into liquidation | ADMINISTRATION
Bristol-based transport training course provider PB Transpor...
24
|
Mar
|
Halifax arts trust calls in administrators | ADMINISTRATION
The Square Chapel Trust and its subsidiary Square Trading Lt...
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