Tue, 21 Mar 2017 | ADMINISTRATION
Administrators appointed to collapsed Somerset-based footwear Ted & Muffy, which recently made 11 of its 38 staff redundant, are looking for a buyer for the business.
The firm, formerly known as Duo, sells high-quality boots and shoes which are all made from its studio and offices in Frome. It has a physical store in Bath and a “major” online presence, selling to customers around the world.
Administrators Begbies Traynor have been appointed to find a buyer for The Blink Partnership Ltd, which trades as Ted & Muffy.
The firm, which will continue to trade while a buyer is found, was said to have performed well under previous ownership but had been adversely affected by mild autumn trading and a major rebranding two years ago.
Ian Walker, partner at Begbies Traynor’s office in Exeter, said: “In April 2016, Ted & Muffy was rescued out of administration by The Blink Partnership Ltd.
“However, unfortunately sales haven’t reached expectations and the business has no alternative but to find a new buyer.
“The business will continue to trade while a new buyer is being sought, and meanwhile there are no significant arrears of creditors.”
Anyone interested in buying the business is urged to come forward “as quickly as possible”.
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