79 jobs saved as Leicestershire firm sold in pre-pack deal
Some 79 jobs have been saved after a Leicestershire firm was sold in a pre-pack sale.
Adrian Allen and Diana Frangou of RSM Restructuring Advisory were appointed joint administrators of Brands 2 Hands on 4 August.
Brands 2 Hands operates in logistics (vending & catering, supply chain solutions and distribution); remanufacturing (espresso equipment, vending machines, chillers & fridges and catering equipment) and warehousing from leasehold premises in Old Dalby.
The decision to appoint administrators was made due to the company experiencing “substantial” cash flow difficulties.
Brands 2 Hands has been sold to an unconnected party, RBC East Midlands, in a pre-pack deal which has seen all employees being taken on by the purchaser, which will continue operating from the Leicestershire site.
Adrian Allen, restructuring partner and one of the joint administrators said: “The sale allows all operations of the company to continue, whilst securing the jobs of 79 employees. It also represents the best outcome for creditors and ensures continuity of service for its customers.”