Administrators have been appointed to find a buyer for Somerset-based women’s footwear company Ted & Muffy, following a period of weak trading.
Ian Walker, a partner at corporate recovery firm Begbies Traynor’s office in Exeter, was appointed as administrator of The Blink Partnership, trading as Ted & Muffy, on 15 March.
The business will continue to trade while a buyer is sought. Ted & Muffy has offices and a warehouse in Frome, a store in Bath and an ecommerce site that offers international delivery.
Eleven of its 38 members of staff have been given notice of redundancy.
Walker said: “Under previous ownership Ted & Muffy, formerly known as Duo, enjoyed strong sales. However. sales were unexpectedly impacted by a mild autumn and a major rebranding two years ago.
“In April 2016, Ted & Muffy was rescued out of administration by The Blink Partnership. However, unfortunately sales haven’t reached expectations and the business has no alternative but to find a new buyer. The business will continue to trade while a new buyer is being sought, and meanwhile there are no significant arrears of creditors.”
Interested parties are asked to contact Begbies Traynor’s Exeter office on 01392 260800.