Deal secures school uniform supplier’s future
The future of a £8m-turnover school uniform supplier has been secured after administrators completed the sale of the business.
School Trends, which operates out of premises near the Holbrook Industrial Estate in South Yorkshire, is a school and academy uniform supplier that sells uniforms direct to schools and to consumers.
The business was sold on 31 December 2018 to Barlow Park Ltd, a company formed by sector specialist Tim Thrall to make the acquisition.
Howard Smith and David Costley-Wood of KPMG were appointed joint administrators of School Trends Ltd, and holding company New School Trends Ltd, on 21 December 2018.
With insufficient stock available to trade the business in administration, 38 members of staff were made redundant upon the joint administrators’ appointment. However, 21 staff were retained whilst the administrators assessed the remaining options available. The deal with Barlow Park ensures that the business will continue to trade, and retains the School Trends brand and all 21 members of retained staff. Barlow Park also intends to honour outstanding orders.
Howard Smith, joint administrator and associate partner at KPMG, said: “School Trends is a major uniform supplier and so this deal provides welcome continuity for schools and parents. While it’s unfortunate that redundancies had to be made, we are pleased that a deal could be secured quickly prior to the New Year to save the business and continue trading. “The new leadership team is committed to getting up to speed in addressing outstanding orders, but also to press on, invest in the business and further improve its offering.”
Walker Singleton acted as agents for the Administrators.