Kybotech Group rescues two Padiham retailers

Two Padiham-based retailers, Big Home Shop Ltd and Physioroom Ltd, have been acquired by the Kybotech Group weeks after they both entered into administration. Twenty-three jobs have been saved.

Big Home Shop Ltd sells garden furniture, outdoor equipment and other general furniture items via online marketplaces. Its financial challenges had been exacerbated by supply chain issues and stock shortages during peak sales periods. 

Physioroom Ltd sells home exercise, recovery and injury prevention equipment via its dedicated website. It was reliant on Big Home Shop for a number of services which it was no longer able to provide. These were compounded by its own funding problems.

The deal sees Kybotech Group, an online retailer of garden buildings and garden furniture, acquire all of the business and assets of the two companies. A total of 23 employees who were retained by the joint administrators while they continued to trade the businesses have transferred to the purchaser as part of the transaction.

Rick Harrison, managing director at Interpath Advisory and joint administrator, said: “We are pleased to have concluded this transaction, which not only sees Big Home Shop and Physioroom move into new ownership, but which also safeguards a significant number of jobs.

"We’d like to thank express our sincere thanks to all of the employees for their support in trading the business while in administration, and wish them, and the team at Kybotech Group all the very best for the future."

Charles Walton, founder and group CEO of Kybotech Group, said: "We are delighted to be able to continue the brand journey of both Physio Room and True Shopping. These are fantastic additions to the Kybotech Group brand family, and we are very excited about the future.”

The Interpath Advisory team comprised Rick Harrison, Howard Smith, James Pollicott, Rich Curran, Amy Starkey, Tony Rudkin, Ryan Manuel, Lorna Cottom, Tom Morton and Emma Loten. The joint administrators were advised by Chris Roberts, Rob Lyons and Grace Imafidon from DLA Piper. Kybotech Group was advised by teams from Kroll and Field Fisher.

• For further Lancashire business news, advice and analysis subscribe to Lancashire Business View or join the LBV Hub from just £2.50 per month. Click here to subscribe now.