KRE Corporate Recovery LLP appointed as Administrator.
UK toy distribution company Sales Partnership has been placed into administration. KRE Corporate Recovery LLP has been appointed as Administrator and will be notifying creditors shortly.
KRE was initially engaged to find a buyer for the business, a search which ultimately proved fruitless. The company circulated a sales flyer to interested parties several weeks ago, offering the business and assets for sale. A deadline of Tuesday 17th March was given to parties who wished to submit an expression of interest. While it is believed that a number of companies signed the non-disclosure agreement in order to receive further information, it appears that no firm offer to acquire the business was forthcoming.
Therefore Sales Partnership has ceased to trade and the Joint Administrators will be working alongside the secured creditor to maximise recoveries of the remaining assets.