Custom Goods Business Acquired Under Pre-Package Deal | Yorkshire Deals News

A pre-package deal was struck at a Leeds-based client goods business, safeguarding more than 90 jobs.

Nick Holloway and Howard Smith of Interpath Advisory were appointed co-directors of Awesome Merchandise Ltd on August 24, 2022.

Awesome Merchandise is a apparel, merchandise and custom printing company, providing services to businesses and individuals.

The company employs 94 people at its head office in Leeds.

Largely dependent on the live music and events sector, the business was hampered by restrictions in place during the Covid-19 pandemic, leading to a difficult business environment which impacted its financial performance and put pressure increased cash flow.

Efforts were made to find a solvent solution for the company, but the administrators eventually came to the conclusion that it was in the interest of the creditors that the company be placed in receivership.

Immediately after their appointment, the joint directors completed the sale of substantially all of the business and its assets to Group Ltd, which shares a director with Awesome Merchandise Ltd. All of the company’s 94 employees were transferred to the buyer as part of the sale.

Nick Holloway, Managing Director of Interpath Advisory and Co-Administrator, said: “We are delighted to have completed this transaction which ensures continuity of service for Awesome Merchandise customers and most importantly protects a number of jobs.”

Howard Smith, Managing Director of Interpath Advisory and Co-Director, added: “Awesome Merchandise is a bespoke company with strong B2B relationships in the music industry which unfortunately, like many other companies, has experienced significant financial difficulties as a result of Covid-19.

“We are delighted to have completed this transaction which secures the future of the business, as well as safeguarding the jobs of 94 employees working at the head office in Leeds.”