A restructuring deal has saved outdoors brand Alpkit.
The firm, which has two Lake District stores, announced that it was going into administration yesterday, Wednesday January 29, and said it was hopeful of a rescue deal.
Today, it has announced a significant financial restructure and new investment to secure its long-term future.
It has secured new investment via a pre-pack process. The pre-pack process meant that Alpkit briefly went into administration so that the company could be bought by the new investor.
Incoming investor Jeroen van den Berge, an experienced investor, operator and outdoor enthusiast, will join as non-executive chair and the firm will continue to be led by its existing team.
The firm said it had faced incredible challenges over the last three years.
Alpkit has branches in Ambleside and Keswick.
Chief executive David Hanney said rapid cost inflation and a challenging market environment had combined with new trade barriers, a rising weight of interest rates and recovery loan repayments led the firm into this position.
