Jobs saved at stricken Leicester fashion wholesaler
Ten jobs have been saved after a Leicester fashion wholesaler was sold out of administration.
Quantuma partners Andrew Andronikou and Simon Bonney had been appointed administrators at Rocco Fashion Ltd on 16 May.
The business, which designs and manufactures ladies clothing for high street retailers, was then sold to RB Fashion Limited, also based in Leicester, on Friday 15 June.
All ten staff at Rocco have stayed in employment after their jobs were transferred to the new owner.
Andronikou said: “A number of issues, including the downturn in the national retail market, impacted on Rocco Fashion with the result that cashflow was hit.
“But we were quickly in touch with a number of interested parties and are pleased that a sale has now been achieved to RB Fashion.”
Bonney added: “Our detailed negotiations have enabled both the business to continue and ten jobs to be saved, which is an excellent result given the initial situation we encountered.”
Rocco Fashion was incorporated in June 2015 and its last recorded turnover was around £5.5m.