DCS Clothing Ltd, DBS Europe Ltd and DBS Online Ltd, which entered administration a week ago have been acquired. Anthony Collier and Simon Farr of FRP Advisory were appointed as joint administrators and immediately secured a sale of the businesses and their assets to Axel 123 Ltd, which includes members of DBS’ previous management team.
Scarborough based DBS traded as SikSilk in the UK and Europe. It was originally founded in 2013 and employed 56 staff members. All employees have been transferred across to the new company.
Anthony Collier, partner at FRP and joint administrator of DBS Clothing Ltd, said: “We’re pleased to have secured a positive outcome for DBS and will continue to work with the purchasers to ensure a smooth transition.
“The retail sector has faced significant challenges since the start of the pandemic coupled with cost inflation and reduced customer spending in light of the cost-of-living crisis. Like many businesses, DBS was unable to navigate through these challenges. This deal has helped save more than 50 jobs, and will allow the brand to move forward.
“We wish the management team every success for the future.”
Share