Derbyshire bike-maker sold out of administration
Derbyshire-based bicycle manufacturer and retailer Stanton Bikes has sold its business and assets as a going concern to Stanton Bicycles Limited, a new company owned by Daniel Stanton.
The deal comes after Stanton Bikes entered administration on 11th November 2022 after Dean Nelson and Nick Lee, business recovery and insolvency partners at PKF Smith Cooper, were appointed as joint administrators.
Speaking on the sale, Nelson said: “We are pleased to announce that the business and assets of Stanton Bikes Limited have been sold and will now continue to trade. Since it opened in 2011, Stanton Bikes has continued to establish a global presence in the biking world. However, recent financial difficulties have left the business in a perilous position.”
He added: “As the joint administrators, we always sought to sell the business as a going concern, so we are thrilled with this outcome protecting the brand, goodwill and employment. I am sure the revival of a household name like Stanton Bikes will be welcomed in Derbyshire and beyond.”