Beauty salon sold to management team

A Leeds hair and beauty salon has been sold to its former management team, saving all 11 jobs.

The unisex hairdressing business which also offered beauty treatments, massage, makeup and fragrances has been acquired by managing director Nicholas Nicola and the rest of the management team.

Insolvency specialists Wilson Field was appointed to Allertons, based at The Light on the Headrow in Leeds, on 19 January this year.

Joint liquidators Kelly Burton and Lisa Hogg said the salon had experienced a difficult trading period after spiralling costs and lack of space meant they had to restructure.

Kelly Burton, associate director and insolvency practitioner at Wilson Field in Leeds, said: “The company ran into financial difficulties initially after spiralling costs.

“The company has now moved into The Queens Arcade in Leeds with the same team. It is always satisfying when a well-known and established business can be saved. From what was a difficult situation has emerged a good result.”

The total value of the deal is undisclosed but includes the business and the assets of the company which has been operating since May 2014.

Allertons managing director Nicholas Nicola said: “This has been a difficult period but I am pleased with the outcome.

“All staff jobs have been retained. We are now looking forward to a bright future with the same team, the same high quality products and continuing our high standard of service to our loyal customers.

“Effective teamwork between all parties has turned this deal around very quickly and it is gratifying that as an established local business, we can continue to trade.”

 

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