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”.
A small team of three of us focus on sales, purchasing, and administrative tasks. The business could easily be integrated within an existing team to support higher profits.
RELOCATABLE
Specialises in sales of rare, vintage and celebrity-owned instruments, including acoustic, electric and bass guitars, as well as amplifiers, effects pedals and accessories.
LEASEHOLD
Offers an extensive range of sports, prestige and exotic vehicles to customers and clients throughout the UK. Utilises a highly experienced team to provide vehicle servicing, valeting and detailing, delivering cars on time, within budget and with a h...
LEASEHOLD
|
09
|
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
|
09
|
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
|
08
|
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
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