Leonard Curtis Business Rescue and Recovery has confirmed that Bounce Health and Fitness – the Derby based trampolining centre – was placed into administration on 7th June 2018 with Richard Pinder and Sean Williams appointed as joint administrators.
The business entered administration as a result of high fixed costs, increasing insurance costs and a reduction in revenue which meant the company suffered a build-up of trade liabilities.
The directors had made attempts to raise additional working capital but given the company’s financial position this was not possible.
Legal action was imminent and therefore appropriate steps were taken by the director to preserve the business.
After a period of marketing the administrators concluded a pre-packaged sale of the company’s business to a connected party. This resulted in the transfer of all 38 employees to the new purchasing entity.