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Project Lima

Opportunity to acquire a wholesale company based in Derbyshire supplying independent menswear shops throughout the UK and Europe.

Acquisition opportunity

BK Plus brings to market the opportunity to acquire a wholesale Company based in Derbyshire that supplies independent menswear shops throughout the UK and Europe. The Company operates under a number of well known and established brands, with a reputation for classic elegance and sophistication.

Predominately dealing with independent menswear retailers, seasonal collections are sold twice a year on a forward order basis, with core product stocked and sold on an immediate delivery basis.

The Company operates from a 18,734sq.ft leasehold premises and employs 6 full time staff. The Company sources made to order stock from the Far East and holds a significant quantity of (owned) men’s, shirts, men’s socks, accessories (including ties and handkerchiefs), and ladies blouses.

Reasons for sale

In response to retail trends showing consumers were moving to online purchasing, the Company invested a significant sum to develop a new website in 2022 and increase the direct to consumer turnover. Whilst this has resulted in improved sales at greater margin, Brexit has been disastrous for the Company as all sales to the EU now attract Import Duty, which has seen many customers (wholesale and D2C) choosing to buy elsewhere. In addition, there have been further challenges and costs with freight and containers (as a consequence of Brexit).

The Company began to fall behind with supplier payments which has ultimately resulted in an inability to have new stock line orders placed in time or ready to meet new season trends.

Financial informationDraft Management
Accounts p/e April
2024
£
Draft Accounts
y/e 31 December
2023
£
Statutory Accounts
y/e 31 December
2022
£
Turnover
347,289

1,409,570

1,480,380
Gross profit
58,227

380,407

325,197
Gross profit %
16.77%

26.99%

21.97%
Operating profit/(loss)
(122,044)

(123,124)

(181,678) 

The Process

Please note that this is an accelerated opportunity which could result in a sale of the Company, or its business and/or trade assets via an insolvency process. The opportunity could also be removed at any stage. Please register your interest as soon as possible. All interested parties will be required to sign a non-disclosure agreement (“NDA”) before being given access to additional information. Offers must be submitted in writing and accompanied by proof of funding, on or before midday on Friday 17 May 2024.

All contact on this opportunity should be with:

Richard Tonks – 01922 922050 richard.tonks@bkplus.co.uk

Louise Corbishley – 01922 922050 louise.corbishley@bkplus.co.uk

Louis Cole – 01922 922050 louis.cole@bkplus.co.uk

Register Interest

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