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FRP Advisory secures sale of Proteam UK

19 July 2011

Deal saves 37 jobs at the leisure product supplier 

Paroh Limited, a subsidiary of clothing and protective equipment supplier Direct Corporate Clothing Plc, acquired Proteam UK Limited (Proteam UK), which distributes leisure products, on 15 July 2011.

The deal was secured by Jason Baker and Geoff Rowley, partners at specialist restructuring, recovery and insolvency firm FRP Advisory LLP, who were appointed Joint Administrators to Proteam UK on 13 June 2011.

One of the UK's leading designers, importers and distributors of leisure products for major retailers such as DIY stores and supermarkets, Proteam UK experienced serious liquidity problems after a major customer, Focus DIY, itself entered administration. The company continued to trade as a going concern until it was bought. Of the 41 staff employed at Proteam UK, the sale has saved 37 positions.

Commenting on the deal, Jason said: "We are pleased that the sale has secured 37 jobs at Proteam UK and the future of the company, safeguarding a continued supply of products to its customers. Trading the company for a month gave us enough time to find a buyer, and we received several expressions of interest in a well-known brand that is respected amongst its clients in the retail market.”

Sam Sohal, joint managing director of Direct Corporate Clothing, said: “The acquisition of Proteam UK brings an exciting and popular business into our organisation. We look forward to continuing the great work of Proteam UK, by driving the retail sector forward with its innovative leisure products and high standards of customer service.”

Proteam UK began trading in 1991 and is based in Tonbridge, Kent. Direct Corporate Clothing – headquartered in Birmingham – supplies uniform clothing and personal protective equipment. 

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