Bike clothing company Vulpine went into administration several days ago, with cofounder Nick Hussey giving the following statement:
“It is with intense sadness that I have to inform you that Vulpine is insolvent and I have had to take the extremely difficult but essential decision to place the company I founded into administration, under UK law, hence my unusual formality,”
Administration isn’t necessarily the end for the brand, as we’ve seen before with BETD buying Middleburn, but it’s sad to see a UK company suffer such a blow. It’s a been a difficult year, with Vulpine cancelling a crowdfunding attempt that was going to fall short of its £750K target. Nick continued:
“The proposed Administrators plan is to try to sell the company’s assets, such as brand, goodwill, database & website to maximize realisations for the benefit of creditors and potentially shareholders. You can contact Robert Young at RSM for advice on this process, or if you believe there may be an interested buyer: email@example.com”
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