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Sale of Clugston Distribution Services

Sale of Clugston Distribution Services

The Joint Administrators of Clugston Group Limited have successfully agreed a sale of the share capital of Clugston Distribution Services Limited.

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The Joint Administrators of Clugston Group Limited have successfully agreed a sale of the share capital of Clugston Distribution Services Limited.

Clugston Distribution Services Limited, which was not part of the insolvency process and continued to trade as normal in recent weeks, has been acquired by AJWG Limited.

The transaction, which follows a marketing process by KPMG, ensures that Clugston Distribution Services continues to trade as a standalone entity, preserves value in the supply chain and secures the jobs of 153 employees.

James Clark, Joint Administrator of Clugston Group Limited, said: “This sale represents a positive outcome for Clugston Distribution, its stakeholders, and for the local area. A solvent sale ensures ongoing trade for the business, its supply chain, and, furthermore, helps secure jobs for the incumbent workforce. The deal is testament to the considerable efforts of the senior management team at Clugston Distribution and my colleagues who have worked tirelessly to secure the future of the business.

“Of course, there is still much more work to do. We continue to explore all options as we look for buyers for the contracts and divisions in administration.”

ENDS

For further media information please contact:
Alison Anderson, Corporate Communications, KPMG
T: 0113 254 2980 / 07733 453 065
E: alison.anderson@kpmg.co.uk


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 17,600 partners and staff. The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

The Joint Administrators of Clugston Group Limited have successfully agreed a sale of the share capital of Clugston Distribution Services Limited.  

 

Clugston Distribution Services Limited, which was not part of the insolvency process and continued to trade as normal in recent weeks, has been acquired by AJWG Limited.

 

The transaction, which follows a marketing process by KPMG, ensures that Clugston Distribution Services continues to trade as a standalone entity, preserves value in the supply chain and secures the jobs of 153 employees.

 

James Clark, Joint Administrator of Clugston Group Limited, said: “This sale represents a positive outcome for Clugston Distribution, its stakeholders, and for the local area. A solvent sale ensures ongoing trade for the business, its supply chain, and, furthermore, helps secure jobs for the incumbent workforce. The deal is testament to the considerable efforts of the senior management team at Clugston Distribution and my colleagues who have worked tirelessly to secure the future of the business.

 

“Of course, there is still much more work to do. We continue to explore all options as we look for buyers for the contracts and divisions in administration.”

 

ENDS

 

For further media information please contact:

Alison Anderson, Corporate Communications, KPMG

T: 0113 254 2980 / 07733 453 065

E: alison.anderson@kpmg.co.uk

 

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 17,600 partners and staff.  The UK firm recorded a revenue of £2.40 billion in the year ended 30 September 2019. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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