Children’s car seat wholesaler collapses – all staff made redundant
A Leicestershire wholesaler of children’s car seats has collapsed – with all staff losing their jobs only weeks before Christmas.
Lee Lockwood and Deviesh Raikundalia of RSM UK Restructuring Advisory were appointed as joint administrators of Team Tex (UK) on Friday 29 November.
Established in 2003, the Coalville-based business was a wholesaler of infant car safety seats to national retailers. The company employed four members of staff and in year ending December 2023 achieved posted turnover of around £7.
The decision to appoint administrators was made after its international parent company and sole supplier, TEAM TEX, was formally placed into an insolvency process in France, leaving the company unable to fulfil customer orders and continue to trade.
Despite efforts by administrators to find a way for the company to continue to trade, starting a marketing process for the business was deemed unviable and it has been closed down with all staff made redundant.
Lockwood said: “The company has suffered due to a chain reaction caused by the cessation of activity of TEAM TEX. Due to market circumstances outside of its control, and without a viable solution, the director had no choice but to shut the business. Employees have been paid up to the end of November 2024, but sadly all have been made redundant on appointment.”
RSM was advised by Lemi McAuley of Hill Dickinson.
Team Tex (UK)’s products had received negative reviews across a range of websites, including Amazon and MumsNet, with some rating them “dangerous” and “unsafe”. Others said the car seats were “unsafe but legal”.
