Administrators find buyer for Modelzone wholesale arm
Administrators for the collapsed toy and model retailer Modelzone have found a buyer for its wholesale arm Amerang.
Amerang’s business and assets have been purchased by Ripmax Limited via a newly incorporated company, Pinehurst 104 Limited which will trade under the Amerang name.
Ripmax is a competitor in the sector and the sale ensures that Amerang will continue as a going concern. All remaining 18 staff at Amerang will transfer to the new company.
Richard Hawes, joint administrator, said: “We are delighted to have secured a buyer for Amerang, which continues to be an attractive brand given the strength of its customer and supplier base and its reputation in the market.”
Last week the administrators announced proposals to implement a store closure programme for Modelzone’s 47 retail stores.
