Tim Vance, John Sumpton and Sam Woodward of EY Parthenon’s restructuring team were appointed as joint administrators of Complete Business Solutions Group Ltd, Bluefish Office Products Ltd, The Irongate Group Ltd and RAM Print Ltd on 9 January.
Immediately following the appointment of administrators, a sale of CBS’ business and assets was completed by the administrators to a subsidiary of EVO. The deal also resulted in the immediate transfer of all of its 632 staff to EVO.
Vance commented: “CBS is one of the UK’s leading providers of business supplies and services, but the long-term impact of the pandemic lockdowns and subsequent change in working habits has created significant headwinds for the business and impacted revenue and cashflow. read more here