BusinessBusiness RecoveryHappy day for Red Letter Days

Happy day for Red Letter Days

Red Letter Days sold after just one day in administration

High-profile entrepreneurs Theo Paphitis and Peter Jones have stepped into
the limelight again, after bagging adventure and activity gifts business Red
Letter Days after just one day in administration.

Jones stars on the BBC’s entrepreneurial show Dragon’s Den,
alongside RLD founder and chief executive Rachel Elnaugh, while Paphitis was
formerly chairman of Millwall Football Club.

The sale of RLD, undertaken by administrators Kroll, came as a result of
‘cash-flow difficulties’ at the business.

Joint administrators Andrew Pepper and Alastair Beveridge said that the sale
‘effectively safeguards’ the future of the business and the jobs of its 130
employees.

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