ADMINISTRATORS FROM FRP Advisory have saved 37 jobs through the sale of Proteam.
The 20-year old leisure products importer and distributor entered administration last month after suffering problems following the collapse of major client Focus DIY.
Proteam has been acquired by Paroh, a subsidiary of Direct Corporate Clothing. The deal has secured 37 of the 41 jobs at Proteam.
“Trading the company for a month gave us enough time to find a buyer and we received several expressions of interest in a well-known brand that is respected among its clients in the retail market,” said Jason Baker, partner at FRP Advisory and joint administrator of Proteam.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children