30 jobs saved as lighting firm sold out of administration
A Manchester based lighting firm has been sold out of administration saving 30 jobs in the process.
Middleton based LED lighting firm went into administration earlier this week.
Tracey Pye and David Costley-Wood from KPMG’s Restructuring practice were appointed joint administrators of LED Hut Fulfilment Services Limited.
LED Hut is one of the leading LED lighting suppliers in the UK, selling to both consumers and trade.
Immediately following their appointment, the joint administrators concluded a sale of the business and assets of LED Hut to Supreme 88 Limited, a subsidiary of Supreme Imports Limited.
The firm is a leading distributor of fast- moving consumer goods. More than 30 people have transferred to Supreme as part of the sale.
Sandy Chada, of Supreme Imports, said: “This acquisition will further enhance our range of offerings in the consumer and trade lighting space, and also follows on from our recent successful acquisition of certain assets of Monocore Ltd, including the Go Nutrition brand.”
Tracey Pye, director at KPMG and joint administrator, said: “We are delighted to have secured this sale which safeguards the future of the LED Hut business.”
Led Hut started trading in March 2011 and established itself as the leading provider of LED lighting into the UK.
The firm operated a dedicated call centre consisting of customer service representatives.
LED Hut employed 60 people at its head office in Manchester and recorded a turnover of over £18m in 2015.
The company has sold over eight-million light bulbs in the last five years.
In 2016 the company was acquired by Clive Brown and Simon Boyle bringing ownership back to the UK.