Two Padiham-based retailers, Big Home Shop Ltd and Physioroom Ltd, were acquired by the Kybotech group a few weeks after taking office. Twenty-three jobs were saved.
Big Home Shop Ltd sells garden furniture, outdoor equipment and other general furniture items through online marketplaces. Its financial difficulties had been exacerbated by supply chain problems and stockouts during peak sales periods.
Physioroom Ltd sells home exercise, recovery and injury prevention equipment through its dedicated website. She was dependent on Big Home Shop for a number of services that she was no longer able to provide. These were compounded by his own funding problems.
The agreement provides for Kybotech Group, an online retailer of garden buildings and garden furniture, to acquire all of the businesses and assets of the two companies. A total of 23 employees who had been retained by the co-directors while they continued to operate the businesses were transferred to the acquirer as part of the transaction.
Rick Harrison, Managing Director of Interpath Advisory and Co-Director, said: “We are delighted to have completed this transaction, which not only sees Big Home Shop and Physioroom become new owners, but also protects a significant number of jobs.
“We would like to express our sincere thanks to all employees for their support in negotiating the company while they were in administration, and wish them and the Kybotech Group team all the best. for the future.”
Charles Walton, Founder and CEO of Kybotech Group, said, “We are delighted to be able to continue the brand journey of Physio Room and True Shopping. These are fantastic additions to the Kybotech Group family of brands, and we are very excited about the future.”
The Interpath Advisory team included Rick Harrison, Howard Smith, James Pollicott, Rich Curran, Amy Starkey, Tony Rudkin, Ryan Manuel, Lorna Cottom, Tom Morton and Emma Loten. The co-directors were advised by Chris Roberts, Rob Lyons and Grace Imafidon of DLA Piper. Kybotech Group was advised by the Kroll and Field Fisher teams.
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