Iconic fragrance brand sold out of administration

The iconic fragrance and skincare brand Blue Stratos has been sold after its parent company, Northampton-based Parfums Bleu, slipped into administration.

Warley-based Three Pears Brands has bought Blue Stratos, which became famous in the 1980s for a series of TV adverts.

The deal was brokered by Begbies Traynor. Fiona Stuart and Sharna Mckay, from the restructuring and insolvency team at law firm Fosters, advised Begbies Traynor on the deal.

Marco Piacquadio from Begbies Traynor, who led the rescue process as joint administrator with his colleague Julie Palmer, said: “We strive to promote a rescue culture wherever possible and are pleased to see such an outcome in this instance. Not only has it rescued geographical elements of the Blue Stratos brand and trademark originally launched by Shulton Inc in 1975, the creators of Old Spice, it also gives the new owners the opportunity to relaunch the brand at a new target audience.

“From the very first discussions, Three Pears Brands proved to be an excellent fit for the business as they already had experience in running similar established brands and we have every confidence that they will be able to take it forward successfully. Key negotiations were held with the secured creditor and consideration was also given to key suppliers and creditors including the existing board of directors.”

Begbies Traynor says all jobs have been saved as part of the deal.