Tue, 23 May 2017 | ADMINISTRATION
FRP Advisory have been brought into appliance retailer The Gas Superstore, with the company now in administration.
Nathan Jones and John Lowe of FRP Advisory are now seeking a buyer for the distressed business plus assets, which had annual sales of £12 million, from its shop in Leicester and warehouse near Coalville.
It ceased to trade on 2nd April, leaving some customers without their goods delivered. The business had started sacking staff towards its closure, with Leicester Trading Standards processing 50 customer complaints regarding The Gas Superstore.
“The joint administrators are marketing the business and the assets of the company for sale and requests interested parties to make early contact,” FRP say in a statement.
“Prior to the suspension of trading, Gas Superstore had sought to recapitalise the business, however the necessary injection of capital failed to materialise, resulting in pressure on cash flow increasing to unsustainable levels.
“The company was left with no viable option other than to first suspend trading and then seek the protection of administration to allow for a more viable long term solution to be found.”
Find a business in administration here
Subscribe to the Business Sale Report here
Offers an extensive range of specialist property development solutions. Provides a multitude of security systems, including installation and maintenance. Works with circa 140 active clients, 85% of whom provide repeat business. Offered for sale to fa...
FREEHOLD
Company 1: High-end designers and makers of furniture and kitchens to both private individuals, and commercial clients. Fully bespoke and high value work. Company 2: A highly recognised brand, sheet materials cut to size, edge-banded and spray finish...
LEASEHOLD
Supplies a range of products, including crates, beds, leads and toys to private and trade customers across the UK and internationally. The company owns the full product ranges and IP for brands of dog identification tags which can be engraved in-hous...
LEASEHOLD
|
31
|
|
Mar
|
Coronavirus Business Interruption Loan Scheme to cover business acquisitions | BUSINESS NEWS
The UK government has launched the Coronavirus Business Inte...
|
30
|
|
Mar
|
Tech group The Panoply acquires consultancy firm Ameo | BUSINESS SALE
Business consultancy firm Ameo has been acquired by AIM-list...
|
27
|
|
Mar
|
Addison Lee acquired by consortium of investors | BUSINESS SALE
Addison Lee Group, London’s biggest private care hire ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
19
|
|
Feb
|
On-demand laundry app snapped up after administration | BUSINESS SALE
Laundrapp, an on-demand laundry service which was touted as ...
|
28
|
|
Nov
|
Peacocks to rescue Bonmarche | BUSINESS SALE
Peacocks has agreed a deal with administrators to rescue riv...
|
30
|
|
Oct
|
Building contractor Simons goes into administration | ADMINISTRATION
Lincoln-based building contractor Simons Group has announced...
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