Notts firm swoops for stricken online retailers, saving 23 jobs
Two Lancashire businesses have been sold out of administration to a Nottinghamshire business, saving more than 20 jobs.
Last month (January) online retailers Big Home Shop and Physioroom went into administration following financial challenges and stock issues, with the loss of 12 jobs.
Rick Harrison and Howard Smith, from Interpath Advisory, were appointed joint administrators.
Now, they have announced a going concern sale of the businesses and their assets to Kybotech Group, based in Worksop, Nottinghamshire.
Based in Padiham, near Burnley, Big Home Shop sold garden furniture, outdoor equipment and other general furniture items via various channels on Amazon and other online marketplaces. Physioroom sold home exercise, recovery and injury prevention equipment via its dedicated website.
Kybotech Group is an online retailer of garden buildings and garden furniture, as well as being the designer and manufacturer of the BillyOh outdoor buildings range, which is the largest brand of its kind in the UK.
The deal sees Kybotech Group buy all of the business and assets of the two firms, and 23 staff, who had been retained by the joint administrators, have transferred to Kybotech.
Rick Harrison, managing director at Interpath Advisory and joint administrator, said: “We are pleased to have concluded this transaction, which not only sees Big Home Shop and Physioroom move into new ownership, but which also safeguards a significant number of jobs.
“We’d like to express our sincere thanks to all of the employees for their support in trading the business while in administration, and wish them, and the team at Kybotech Group all the very best for the future.”
Charles Walton, founder and group CEO of Kybotech Group, said: “These are fantastic additions to the Kybotech Group brand family, and we are very excited about the future.”
The Interpath Advisory team comprised Rick Harrison, Howard Smith, James Pollicott, Rich Curran, Amy Starkey, Tony Rudkin, Ryan Manuel, Lorna Cottom, Tom Morton and Emma Loten.
The joint administrators were advised by Chris Roberts, Rob Lyons and Grace Imafidon from DLA Piper.
Kybotech Group was advised by teams from Kroll and Field Fisher.
