Quantuma LLP saved jobs following the Administration of a Gloucestershire aquatics business
Following an aquatics Administration, restructuring specialists Quantuma LLP have saved jobs at a Gloucestershire aquatics business.
Graham Randall and Mark Roach of Quantuma LLP have sold the business and assets of Mazarine Distribution Ltd in Berkley in a pre-pack administration.
Mazarine Distribution Ltd, a manufacturer and seller of aquatic products, ran into cash flow difficulties following the insolvency of a major partner and recent cash flow difficulties.
Graham Randall and Mark Roach of Quantuma LLP were appointed joint administrators on June 1, 2016, following which they completed the sale to Aquatic Chemicals Ltd for an undisclosed sum.
Mr Randall said: “I am delighted that the sale to Aquatic Chemicals has preserved the jobs of all 12 members of staff.
“The deal represents not only the best outcome for creditors but the best option to secure the future of the business, enabling it to move forward with a new funder on a secure financial footing.”
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