Popular makeover concession Arch Angelz sold to Archangels Brows and Lashes Ltd.
Business advisory firm Quantuma has successfully completed the sale of the business and assets of beauty company, Arch Angelz Limited to Archangels Brows and Lashes Limited.
The beauty bar company operated 31 concessions at a national retailer and specialised in giving customers makeovers. Following unsuccessful attempts by other advisors to find a buyer for the business the company had been placed into administration in early October 2018.
The Company initially ceased trading with the loss of 120 jobs, but following a number of discussions between Quantuma and interested parties, a successful sale was completed to the buyer whereby they acquired the business and assets of 24 of the original locations.
A spokesperson for the new business said that job offers were made to all of the previous staff members and it now employs 60 staff.
Mark Roach, Director and Joint Administrator at Quantuma, said: “We are pleased to have been able to save part of such an established company and delighted the buyer recognised the value of the underlying business. The new company had seen that the previous management had worked hard to develop the brand and is looking to grow the business further in those locations.”
Rebecca Thomas, MC2
0161 236 1352
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Eastbourne, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).