Steve Ross and Matthew Higgins of RSM Restructuring Advisory LLP were appointed Joint Administrators of Mango Bikes on 8 November 2017.
Mango Bikes is an independent online British retailer that provides custom-build city, road and commuter bikes to customers across the UK. The company operates from offices in South Cerney in Cirencester and employs five people.
Following an increase in raw material price and the inability to pass the increase on to customers in a competitive market, directors had to make the decision to enter Administration.
Steve Ross, partner at RSM and Joint Administrator, said:
‘It’s early days but we are progressing all options for the business and assets to maximise realisations for creditors.’
Any enquiries from interested parties should be directed to Steven Ross or Kelly Allison at RSM on 0191 2557000.