FRP administrators sell Brand Acquisitions to JD Sports
Administrators sell parent company to Peter Werth and Pink Soda to JD Sports saving 60 jobs
FRP ADVISORY ADMINISTRATORS save more than 60 jobs through the sale of Brand Acquisitions to JD Sports.
Jason Baker and Geoff Rowley, partners at FRP Advisory, were appointed joint-administrators to the clothing retailer on 13 May.
The duo managed to sell the assets of Brand Acquisitions, including subsidiaries menswear retailer Peter Werth and womenswear arm Pink Soda.
Baker (pictured) said: “The strength of fashion brands Peter Werth and Pink Soda attracted a high level of interest in the business. JD Sports represented the best outcome for creditors, as well as the business and its stakeholders.
“The sale saves 68 jobs in Peter Werth concessions across the UK.”
Brand Acquisitions was created in 2007, funded by private equity partners, and acquired Peter Werth in 2007 and Pink Soda in 2009. The company employs about 70 people across the brands.
The administrators made about five people redundant on appointment.
