SFP, the nationwide insolvency practitioners, has completed a successful sale of Blueglow Ltd, a supplier of mother and baby accessories, after the company went into Administration.
The Hertfordshire-based company produces bespoke clothes, plush toys and nursery products that can be tailored to customers’ requirements, and has an annual turnover in excess of £500,000. The business and its assets was sold to China Unwrapping Limited.
SFP’s Daniel and Simon Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed Joint Administrators on 25th May 2011, with the sale concluded by May 26th 2011.
“Businesses need to keep a close eye on their finances and ensure that cash keeps flowing,” says Simon Plant, Group Partner at SFP, “otherwise the debts can cause problems for the business, as was the case for Blueglow.
“However, we were successful in completing a sale of the business and its assets.”