Paroh rescues Proteam from administration
Paroh, a subsidiary of Birmingham-based clothing supplier Direct Corporate Clothing, has acquired Proteam UK. Paroh bought the leisure product distributor out of administration after it collapsed on the back of Focus DIY's failure.
Jason Baker and Geoff Rowley, partners at insolvency firm FRP Advisory, were appointed joint administrators to Proteam UK on 13 June 2011.
Proteam UK, which designs, imports and distributes leisure products for retailers, had experienced "serious liquidity problems" after a major customer, Focus DIY, entered administration.
The company continued to trade as a going concern until it was bought. Of the 41 staff employed at Proteam UK, the sale has saved 37 positions.
Sam Sohal, joint managing director of Direct Corporate Clothing, said: "The acquisition of Proteam UK brings an exciting and popular business into our organisation. We look forward to continuing the great work of Proteam UK, by driving the retail sector forward with its innovative leisure products and high standards of customer service."
