BusinessBusiness RecoveryMCR administrators save Typhoon, but staff lose out

MCR administrators save Typhoon, but staff lose out

Paul Williams and Philip Duffy sell assets and intellectual property at Typhoon Housewares, but all staff are made redundant

Administrators at MCR have sold Typhoon Housewares, the kitchen accessories
designer to rival Rayware, but all staff were made redundant.

Rayware only picked up the assets and intellectual property of the troubled
company.

Paul Williams and Philip Duffy were appointed joint administrators of the
business on 25 May.

Williams said: “Through an effective administration process we secured the
future of an iconic UK brand, which has a long history and association with
quality houseware products found in some of the best high street stores.

“Unfortunately, we were forced to make all staff redundant as Rayware Limited
acquired the assets only.”

Further reading:

HMRC
tackles Premier League football creditor rule

MCR
appointed administrators to Vergo Retail

Magazine
distributor MMC calls in administrators

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