Published: 25th April 2017
The Blink Partnership, trading as Ted & Muffy are sellers of high quality women’s footwear. They have offices and a warehouse in Frome, as well as a retail store in Bath. The company has a strong online retail presence, with its E-commerce site selling to customers from all around the world.
The company was negatively impacted following a mild winter which impacted on the traditionally strong sales during this time of the years. The company also went through a major rebranding project which came with significant costs. The business was left with no other option than to seek a buyer.
Ian Walker from Real Business Rescue (part of the Begbies Traynor Group), was appointed joint administrator of the company, and set about finding a buyer. While the company continued to trade during this process, unfortunately 11 of the 38 staff employed by Ted & Muffy were made redundant. A buyer was quickly found in the form of Duo Bootmakers Ltd.
The successful sale meant that the remaining 27 employees of the company were able to keep their jobs. The company will continue to trade under its original name, Duo Bootmakers, and is preparing to launch a new collection of shoes in the near future.
“ As soon as we were appointed administrators we worked hard to find a new buyer for the business, which has continued to trade throughout this period. “After receiving enquiries from a number of interested parties, we are delighted to have found a buyer in such a short space of time, helping to protect the local economy and also a significant number of jobs. “Ted & Muffy is going back to its roots and we are confident Duo Bootmakers Ltd, which wants to develop its specialist offering, will be perfectly positioned to help build a more financially robust future for the business. ”Ian Walker, Partner