Tue, 07 Jul 2026 | ADMINISTRATION
Milano Pro Sport, a Lancashire-headquartered designer and manufacturer of gymnastic leotards, is being placed into liquidation, with offers now being invited for the company’s assets.
Preston-based Milano Pro Sport is the biggest supplier and manufacturer of gymnastics apparel and sportswear in the UK. The company has produced gymnastic wear for the British Gymnastic Team, along with more than 16 international gymnastic teams, and in recent years has expanded into cycle wear and cheerleading uniforms.
Plans to place Milano Pro Sport into liquidation were revealed in an update from the company’s major shareholder, listed firm CEPS. According to CEPS, which acquires majority stakes in entrepreneurial UK businesses, the decision came following a review of the company’s operations and financial position.
After CEPS concluded that it was no longer commercially viable for Milano Pro Sport to continue trading, the company’s board has moved to place the business into creditors’ voluntary liquidation (CVL).
According to CEPS, in the year to December 31 2025, Milano International Limited, trading as Milano Pro Sport, recorded turnover of £1.85 million, but fell to a pre-tax loss of more than £156,000.
Milano is a wholly-owned subsidiary of Milano International Holdings Limited, which is 90 per cent owned by Signature Fabrics Limited, in which CEPS plc holds a 67.5 per cent stake.
As a result of Milano’s liquidation, Friedman’s Limited, in which CEPS also holds 67.5 per cent, expects to incur approximately a £600,000 write-off from intercompany balances owed to it by Milano. CEPS has added that there are also likely to be certain non-cash impacts.
In Milano International Limited’s most recently available accounts at Companies House, for the year to December 31 2024, its fixed assets were valued at approximately £115,000 and current assets at close to £898,000, while net assets totalled slightly over £88,000.
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