Trading as RJ Design Associates, the company entered administration at the end of July due to significant cashflow problems. Dean Nelson of Smith Cooper was appointed administrator.
The agency had previously sought advice from Director of Insolvency, Michael Roome, of Smith Cooper back in June. All rescue options were considered and, after marketing the business for sale, fortunately an offer was put in and accepted.
The design and marketing agency works with national brands, including Schuh, Carphone Warehouse, M&S and Thorntons. Its annual turnover is roughly £3 million.
Thanks to the buyout, all jobs were saved and the business can continue running as normal. Managing Director of RJ Design Associates, Caroline Walker, commented, “Despite recent events, it is clear that we have a very successful underlying business and I am confident that following this restructure we can move forward and continue to be successful, enabling us to provide the high-quality of service for which we are renowned.”
Law firms, Eversheds, and Howes Percival assisted with the transfer of the business.