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

Structural Engineering Design Consultancy
South West, UK

Providing designs that are practical but creative and often innovative, to meet the specific needs of its clients. Supporting sustainable construction methods and experienced in eco-friendly structures such as PassivHaus. Offers invited.

Asking Price: Offers Invited
Turnover: £715,000

LEASEHOLD


Technology & Wearables Brand
UK Wide

An established, proven brand and assets for sale, with considerable multi-million pound growth potential. The company is a designer and supplier of an established audio and wearable technology brand. The products seamlessly link three multi-billion-p...

Asking Price: Offers Invited
Turnover: £5,000,000

RELOCATABLE


Air Conditioning & Refrigeration Products Service Provider
UK Wide

Offers a diverse range of commercial refrigeration and air conditioning equipment throughout the UK. Benefits from maintenance contracts and reactive maintenance. Possesses a strong understanding of all types of cooling solutions and is able to fully...

Asking Price: Offers Invited
Turnover: £6,400,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Nov
 

UK government set to approve Cobham takeover | BUSINESS SALE

The British government is poised to approve the $5 billion t...

 
18
 
Nov
 

Kitwave acquires Alpine Fine Foods | BUSINESS SALE

Independent wholesaler Kitwave has acquired Alpine Fine Food...

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
30
 
Oct
 

Building contractor Simons goes into administration | ADMINISTRATION

Lincoln-based building contractor Simons Group has announced...

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

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