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FRP Advisory appointed Administrators to Proteam UK Limited

14 June 2011

Leading Kent-based leisure product designer, importer and distributer enters administration

Jason Baker and Geoff Rowley, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm, have been appointed Joint Administrators on 13 June 2011 to Proteam UK Limited (Proteam UK), one of the UK's leading designers, importers and distributors of leisure products for the retail market.

Based in Tonbridge, Kent, Proteam UK supplies major retailers, such as DIY stores and supermarkets, and specialises in adding value to products for the retail market though the improvement of product design and packaging. The company began trading in 1991 and employs 50 members of staff.

Commenting on the reasons for the administration, Jason said: "A large proportion – approximately 35 percent – of Proteam UK's sales came from Focus, the DIY chain, which itself entered administration in May 2011. As a result of the loss of sales from this major client, Proteam UK experienced serious liquidity problems and was unable to continue to trade without the protection of administration."

Jason continued: "There are currently no plans for any redundancies and it is very much business as usual. We continue to trade the company as a going-concern, whilst seeking a buyer for the business."

Interested parties in the sale of the business should contact Andrew Cranmer on Tel: 020 3005 4014 or via email using the online form below.

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