Buyer sought as beadworks enters administration
Administrators at corporate recovery and business advisory firm Quantuma are hoping to broker a deal to save a London business that can be traced back 50 years.
Partner Carl Jackson and director Simon Campbell were appointed administrators of Beadworks UK Ltd on Tuesday, 8 August.
The company was established in 2009 following the merger of three separate entities, but “Beadworks” is a registered trademark which has been used in various forms since 1967.
The business operates from one retail site in London in Tower Street, Covent Garden and a warehouse premises in Theale – and employs 14 people, all of whom are currently retained.
Beadworks offers a range of beads from all over the world, with over 6,000 items in stock. Turnover has been in the region of £450,000.
Carl Jackson said the company’s trading had been affected by the ill health of one of the main operational directors, online competition and a generally challenging economic climate for retailers.
“We are experiencing interest from third parties interested in acquiring the business and would welcome further expressions of interest,” he said.
“We are currently continuing to trade the business in the hope that a sale can be achieved.”
Interested parties should contact email@example.com
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For further information, please contact:
Andy Skinner, Managing Director, ASAP PR – 07990 978257
Marie Wadeson, Head of Marketing,
Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS
Tel: 07464 545678
Notes to Editors
Quantuma LLP is a leading restructuring, insolvency and business advisory practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton, Bristol, Birmingham and Manchester.