Mon, 14 Jul 2025 | BUSINESS SALE
SkatePro, a Danish-headquartered online specialist retailer, has acquired the business and assets of Skate Hut, a retailer of skateboards, scooters, skates and bikes, after the company collapsed into administration.
Skate Hut is based in the West Midlands and principally operated as an e-commerce retailer serving the UK market, but also had a global reach and traded from two physical stores in the UK.
Increased demand during the COVID-19 pandemic saw the firm’s turnover peak at £32.2 million in the year to March 31 2021, with pre-tax profits of £2.6 million. However, it has since seen a steady decline, generating turnover of around £14.1 million in the year to March 31 2024 and falling to a loss of approximately £975,000.
Faced with significant cashflow issues, the company approached the restructuring and insolvency team at Bishop Fleming in May 2025. After reviewing the company’s options, it was decided that the most appropriate recourse for protecting the business would be an accelerated sale process via administration.
Approaches to interested parties and the wider market were made, with the aim of securing a sale in principle within a two-week window. However, these efforts were complicated by the issuing of a creditor’s winding-up petition, necessitating an application to court to commence the administration process and then facilitate the sale.
Skate Hut and corporate parent Splat Holdings, which held the primary interest in the company’s trading premises and certain intangible assets, were placed into administration immediately prior to the sale, with Bishop Fleming’s Luke Venner and Malcolm Rhodes serving as joint administrators.
The joint administrators negotiated with five interested parties before a sale to SkatePro was agreed. SkatePro, which started out as a small local business in 1996, has expanded into a global action sports retailer, operating in 40 countries.
Luke Venner said: “Following a short-but-concerted nationwide marketing process, which culminated in negotiations with five interested parties, we are delighted to confirm the sale of the business and assets of both Skate Hut and Splat Holdings to SkatePro UK for an undisclosed sum.”
In its 2024 accounts, Skate Hut’s fixed assets were valued at £450,000 and current assets at £1.8 million, with net liabilities totalling £1.2 million.
Venner continued: “Retail insolvencies have been a prominent feature in recent years, with numerous high-profile cases highlighting the challenges faced by this sector, so we are especially pleased to see this business continuing under different ownership.”
“The sale preserves the jobs of Skate Hut’s large workforce, whilst also offering protection to all customers with unfulfilled orders.”
Find out more about online business M&A
High levels of distress in the retail sector could enable opportunistic buyers to acquire high-value companies and assets
This is a rare opportunity to acquire a successful Nottinghamshire-based vehicle supplier with a sterling nationwide reputation in the luxury car market.
This well-established luxury and bespoke furniture retailer in Sussex is renowned for its premium products and exceptional customer service, boasting over 16 years of industry expertise.
LEASEHOLD
This is a unique opportunity to acquire a well-established retail business in Leicestershire specialising in freshwater fish, including valuable stock such as Koi Carp and a range of related goods.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.