Derbyshire-based bicycle manufacturer and retailer Stanton Bikes Limited has entered administration.
Dean Nelson and Nick Lee, PKF Smith Cooper’s business recovery and insolvency partners, were appointed joint administrators following a petition to the court by a creditor.
Trading of the business is being continued, under the supervision of the joint administrators, whilst a purchaser is sought for either the shares or the business and assets.
Dean Nelson, business recovery and insolvency partner at PKF Smith Cooper, said: “We will be providing creditors with relevant information regarding the administration process to allow them to participate in proceedings. We are currently dealing with all enquiries. We will strive to achieve the best outcome for everyone involved at this difficult time.”
Stanton Bikes Limited has developed both a national and international reputation in the biking industry for designing, manufacturing and selling hardtail and full suspension bicycle frames.
