BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Plymouth-based travel company saved with pre-pack deal

Plymouth-based travel company saved with pre-pack deal

Thu, 18 Nov 2021 | BUSINESS SALE

Plymouth-based travel company saved with pre-pack deal

A Plymouth-based travel company specialising in overseas diving trips has been saved from administration following a pre-pack acquisition of the non-licensable part of the business by Scuba Tours Worldwide Ltd.

Blue 02 Ltd, which traded as Blue O Two, had registered strong growth pre-pandemic but said that the UK’s stringent, and constantly changing, COVID travel restrictions made it “almost impossible” to deliver diving experiences, with some customers having holidays rescheduled multiple times.

Nathan Tyler, director of Blue O Two, said: “Before COVID, our business was a high growth success story. Despite our best efforts and determination, the financial impact of the pandemic became too great and we were forced to restructure our business.”

Over the course of the pandemic, refunds totalling more than £3 million were made to customers and without investment the business faced closure. However, the brand has now been saved, protecting jobs and providing continuity for about 1,700 customers.

Andrew Sheridan and Simon Stibbons, partners at business advisory firm FRP, were appointed as joint administrators of Blue O2 Ltd on November 15 and immediately completed the sale of the non-licensable part of the business to Scuba Tours Worldwide Ltd.

Joint administrator Andrew Sheridan commented: "This has been an incredibly tough time for the travel industry with even well-established businesses like Blue O Two facing significant challenges. We're therefore delighted to have secured a sale of the non-licensable part of the business, which saved the jobs of all of the employees and protects holidays for 1,700 customers."

Directors Jason Strickland and Nathan Tyler said they were delighted that the Blue O Two brand “lives on under Scuba Tours Worldwide Ltd – which now trades as Blue O Two."


Read more about how COVID-19's impact is creating acquisition opportunities in the travel sector.

Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Group, Stag & Hen Tour Operator
UK Wide

Trading for over 18 years, this e-commerce & telephone service business specialises in stag, hen & group activity breaks. This e-commerce and telephone serviced business is run by a fully trained and self-managed team of knowledgeable individuals who...

Asking Price: £500,000
Turnover: £1,400,000

LEASEHOLD


Hair & Beauty Salon
Kent, South East, UK

The well established business opportunity originally opened its door over 25 years ago, and has been under the current ownership. During that time, they built up an excellent reputation and loyal customer base within the local area.

Asking Price: Offers Invited
Turnover: £340,000

LEASEHOLD


Campervan & Motorhome Conversion Solutions
UK Wide

An opportunity has arisen to acquire a reputable and successful business operating at the forefront of the leisure market. Supplies an extensive range of products for trade and DIY vehicle conversions, including roofs, fittings, wood, and complementa...

Asking Price: Offers Invited
Turnover: £8,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
02
 
Feb
 

Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE

London-based cloud technology firm Babble has continued its ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.