Buyer sought as gas retail superstore enters administration

Administrators have been appointed to a fireplace and electrical goods retailer in Leicester which suspended trading in April.

The business, which was founded 47 years ago had a turnover approaching £12 million after investing £1million in new premises in 2014 and increasing its online presence.

Sadly, the company failed to secure a capital injection causing a potential cashflow problem and the owners temporarily closed the store to “reassess the situation”.

The decision was made to call in administrators, FRP Advisory who are now handling the case. The business had started sacking staff towards its closure, but FRP have retained six staff while they fulfil customer orders and try to find a buyer for the business and assets of the company .

FRP have urged any interested parties to make early contact.