Dozens of jobs have been saved after administrators at Begbies Traynor secured a buyer for a Somerset-based footwear company.
Ian Walker, Partner at Begbies Traynor’s office in Exeter, was appointed joint administrator of The Blink Partnership Ltd, trading as Ted & Muffy, on March 15th 2017, and had to make 11 of its 38 staff redundant.
Now Mr Walker and his team have clinched a sale of Ted & Muffy - securing the jobs of the business’ 27 remaining employees.
The business sells high quality boots and shoes and has offices and a warehouse in Frome, as well as a retail store in Bath. It also has a major online retail presence, selling to customers world-wide.
The company has been sold to Duo Bootmakers Ltd, reflecting the purchasers’ intention to resurrect the former brand name of the business.
Mr Walker said: “As soon as we were appointed administrators we worked hard to find a new buyer for the business, which has continued to trade throughout this period.
“After receiving enquiries from a number of interested parties, we are delighted to have found a buyer in such a short space of time, helping to protect the local economy and also a significant number of jobs.
“Ted & Muffy is going back to its roots and we are confident Duo Bootmakers Ltd, which wants to develop its specialist offering, will be perfectly positioned to help build a more financially robust future for the business.”
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