18 July 2013
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ModelZone administration: Amerang purchased by Ripmax Limited
Staff members transferred to new company. ...
Although the administrators for ModelZone failed to find a buyer for the retail stores and is planning to implement a store closure programme, Deloitte has just announced that it's got a buyer for Amerang, the distribution side of things. The announcement reads:
"The business and assets of Amerang, the wholesaler of toy and hobby trade products, and part of the Modelzone group, the struggling model shop, has been purchased by Ripmax Limited via a newly incorporated company, Pinehurst 104 Limited which will trade under the Amerang name. Ripmax is a competitor in the sector and the sale ensures Amerang continues as a going concern. All remaining 18 staff at Amerang will transfer to the new company.
Richard Hawes, Joint Administrator, commented: “We are delighted to have secured a buyer for Amerang, which continues to be an attractive brand given the strength of its customer and supplier base and its reputation in the market.”
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"The business and assets of Amerang, the wholesaler of toy and hobby trade products, and part of the Modelzone group, the struggling model shop, has been purchased by Ripmax Limited via a newly incorporated company, Pinehurst 104 Limited which will trade under the Amerang name. Ripmax is a competitor in the sector and the sale ensures Amerang continues as a going concern. All remaining 18 staff at Amerang will transfer to the new company.
Richard Hawes, Joint Administrator, commented: “We are delighted to have secured a buyer for Amerang, which continues to be an attractive brand given the strength of its customer and supplier base and its reputation in the market.”
Remember, to get the latest collecting news delivered to your inbox every two weeks, sign up for our e-newsletter.
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