Overview
- The Nottinghamshire-based brand completed a pre-pack administration on 29 January, transferring ownership to a new backer without interrupting trading.
- All 194 roles were retained and its roughly 20 UK stores and online operations remain open and fulfilling orders.
- Dutch financier Jeroen van den Berge is joining as non-executive chair, working with the existing management team.
- Existing ordinary shareholders have been told their equity has been wiped, with crowdfund investors to be offered a stake in the new company.
- The restructuring follows years of pressure from cost inflation, a tough retail environment and trade barriers, after auditors flagged losses and going-concern risks in 2024.