Gas Superstore in administration

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


Share this article



Latest Businesses for Sale

Major Event Recycling/Waste Management
UK Wide

Debt free. High profile events. Reactive marketing. Unique equipment/plant. Relocatable. Unrivalled sector experience. Term contracts. Offers invited.

Asking Price: Offers Invited
Turnover: £710,000

RELOCATABLE


Market Leading, Certified IT & Technician Training
UK Wide

IP Included. Repeat business. Excellent reputation. Accredited/Certified. Asset and goodwill sale. Market leading in growing niche. Offers Invited.

Asking Price: Offers Invited
Turnover: £659,953

RELOCATABLE


Transport & Haulage Specialist
East Midlands, UK

Specialises in flexible and reliable bulk haulage solutions of aggregates, cement and other building materials. Offers invited.

Asking Price: Offers Invited
Turnover: £3,300,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
25
 
Mar
 

West Midlands transport company enters administration | ADMINISTRATION

The company behind the Ring and Ride services throughout the...

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
05
 
Mar
 

Independent bathroom retailer enters administration | ADMINISTRATION

Thought to be the UK’s largest independent bathroom re...

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
31
 
Jan
 

UK's largest manufacturer of ceramic tiles enters administration | ADMINISTRATION

Based in Newton Abbot in Devon, British Ceramic Tile Limited...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources