Press release -
Administrators are ‘thrilled’ as Stanton Bikes Limited avoids closure after the business and assets are successfully sold
After entering administration on 11th November 2022, Derbyshire-based bicycle manufacturer and retailer Stanton Bikes Limited has sold its business and assets as a going concern to Stanton Bicycles Limited, a new company owned by Daniel Stanton.
Stanton Bikes Limited is well-regarded both nationally and internationally within the biking industry for designing, manufacturing, and selling hardtail and full-suspension bicycle frames.
The deal comes after Stanton Bikes Limited entered administration on 11th November 2022 after Dean Nelson and Nick Lee, Business Recovery and Insolvency Partners at PKF Smith Cooper, were appointed as Joint Administrators.
Speaking on the sale, Dean Nelson, Business Recovery and Insolvency Partner at PKF Smith Cooper, stated: "We are pleased to announce that the business and assets of Stanton Bikes Limited have been sold and will now continue to trade. Since it opened in 2011, Stanton Bikes has continued to establish a global presence in the biking world. However, recent financial difficulties have left the business in a perilous position.”
Dean added: "As the Joint Administrators, we always sought to sell the business as a going concern, so we are thrilled with this outcome protecting the brand, goodwill and employment. I am sure the revival of a household name like Stanton Bikes will be welcomed in Derbyshire and beyond."
Notes to Editors
An ambitious business and multi award-winning firm, we are the home of PKF in the Midlands. The region’s leading firm of trusted accountants and business advisors, we operate across key geographies in Derby, Nottingham, Birmingham, and Ashbourne.
Through our membership of PKF International, the large network of legally independent accounting firms and 11th largest network here in the UK, we are at the forefront of compliance regulations and specialise in providing high quality solutions.
Working in unison with PKF member firms across the world, we blend local expertise and extensive territorial knowledge to provide a full range of audit, accountancy, tax and advisory services in line with the expectations and needs of the market.
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PKF Smith Cooper is one of the largest independently owned and preferred accountancy and business advisory firms for owner managed businesses across the Midlands. The firm specialises in providing intelligent, efficient and cost-effective bespoke advisory services to both corporate and individual clients. Smith Cooper has six offices across the Midlands including Derby, Birmingham and Nottingham.
