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Bidding war looms over Coggles

Coggles’ administrators have received interest from “serious” players looking to make a bid for the business.

The York premium indie, which collapsed into administration on May 7 after failing to secure fresh investment, has attracted more than 40 enquiries in the wake of its demise.

Sales packs have been sent to interested parties and the date for final offers is May 31.

Joint administrator Andy Clay, from insolvency firm Begbies Traynor, said: “We have received a good deal of interest in the business from some serious potential purchasers and we’re optimistic that we can bring about a positive outcome.”

On falling into administration Coggles was forced to make half of its 60-strong workforce redundant.

It is understood that chief executive and creative director Mark Bage is among those to have left the company, despite two of the retailer’s three stores and its website still trading.

Prior to its collapse the indie had been seeking a second round of investment worth £4m to aid further growth, following an initial £3m funding from Manchester Square Enterprises, a subsidiary of Pentland Group, in 2011.

Readers' comments (1)

  • The Coggles web site is still taking orders without telling the customers that the company is in administration. I'm surprised administrator Begbies Traynor are allowing that.

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