Fri, 29 Nov 2024 | BUSINESS SALE
Bathroom products group Roxor has bought rival the Robert Lee Group out of administration saving 151 jobs.
The group included: Robert Lee Distribution Limited, RLD Stock Limited, Yorkshire Shower Trays Ltd and Aquadart Brands Ltd. It employed 151 people across sites in London, Wiltshire, Greater Manchester and Yorkshire.
Robert Lee Distribution, whose history stretches back to 1946, was a national distributor of bathroom, shower and plumbing products, supplying a range of reputable brands as well as manufacturing its own product line.
In its latest financial results to the year October 31, 2023 Robert Lee Distribution reported a drop in turnover to £41.1 million from £48.3 million the previous year. Its loss before tax widened to £2.3 million from £1.54 million.
It blamed the impact of higher interest rates on customers willingness to splash the cash on home improvements.
Anthony Collier and Simon Farr of FRP in Manchester were appointed as joint administrators of the Robert Lee Group on November 28th. They were commissioned to run an accelerated sales process.
The joint administrators completed the pre-pack sale of the group and its assets to trade buyer Roxor Group Limited. Having traded for more than 35 years, Halifax-based Roxor Group is one of the UK’s fastest growing suppliers of bathroom products.
The agreement saved all 151 jobs and will ensure continuity for customers of the Robert Lee group of businesses.
Anthony Collier, restructuring advisory partner at FRP, said: "Robert Lee was a firmly established operation, managing more than 30,000 product lines to a loyal customer base. However, it was not immune to the economic pressures felt across a range of sectors in recent years. We’re pleased to have found a high-quality buyer in Roxor Group, preserving the heritage of the business as well as a large number of jobs across the country."
Find out more about insolvency trends in the UK
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