Jobs saved after administrators complete sale of merchandise business

The jobs of 94 staff at a Leeds-based merchandise company have been saved after the business was sold by administrators.

Nick Holloway and Howard Smith, from Interpath Advisory, were appointed to Awesome Merchandise on 24 August 2022.

Awesome Merchandise is a customised clothing, merchandise and printing business, providing services to business and individual consumers across the music industry, creatives and power users of print via its e-commerce platform.

With a large dependency on the live music and events sector, the business was hit by the restrictions in place during the pandemic, resulting in a difficult trading environment that impacted on financial performance and increased cashflow pressure.

Despite significant efforts to secure a solvent solution for the business, company directors concluded it was in the best interest of creditors for the company to be placed into administration.

Immediately following their appointment, the joint administrators concluded a sale of substantially all of the business and its assets to Print.inc Group Limited. All of the company’s employees have transferred to the purchaser as part of the sale.

Holloway, managing director at Interpath Advisory and joint administrator, said: “We are pleased to have agreed this transaction which ensures continuity of service for Awesome Merchandise’s customers and importantly, safeguards a number of jobs.”

Smith, fellow managing director at Interpath Advisory and joint administrator, added: “Awesome Merchandise is a bespoke business with strong B2B relationships across the music industry which, unfortunately, like many other companies, experienced significant financial challenges as a result of COVID-19.

“We’re pleased to have completed this transaction which secures the future of the business, as well as safeguarding the jobs of 94 employees working out of the head office in Leeds.”