Brands 2 Hands Limited operates in logistics (vending & catering, supply chain solutions and distribution); remanufacturing (espresso equipment, vending machines, chillers & fridges and catering equipment) and warehousing from leasehold premises in Leicestershire.
The decision to appoint Administrators was made due to the company experiencing substantial cash flow difficulties, which placed continuity of the business to its customers in jeopardy and resulted in the business being offered for sale through an accelerated process.
The trade and certain assets of Brands 2 Hands Limited have been sold to an unconnected party, RBC East Midlands Limited, in a pre-packaged sale process. This has resulted in all employees being taken on by the purchaser, which will continue operating from the Leicestershire site.
Adrian Allen, restructuring partner and one of the Joint Administrators said:
‘The sale allows all operations of the company to continue, whilst securing the jobs of 79 employees. It also represents the best outcome for creditors and ensures continuity of service for its customers.’