Saltrock reborn as new buyers step in
NORTH Devon surf wear company Saltrock has gone into administration – and just as quickly been saved after a new owner was announced. Administrators Begbies Traynor revealed today (Thursday) the business had been sold to Surfwear Ltd, ensuring the continu
NORTH Devon surf wear company Saltrock has gone into administration - and just as quickly been saved after a new owner was announced.
Administrators Begbies Traynor revealed today (Thursday) the business had been sold to Surfwear Ltd, ensuring the continuation of 70 jobs and a well known brand.
The business has been in North Devon for almost two decades, with a head office at Velator in Braunton and stores at Croyde, Woolacombe and Atlantic Village, plus four more retails outlets in the South West and Wales.
Previous owners Angus and Ross Thomson plus Carl Priscott still retain a stake in the company and will continue to be involved.
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Ian Walker of Begbies Traynor said: "The sale has enabled us to secure the future of a local company, a good brand and a significant numbers of regional jobs. I am confident that Surfwear Ltd is now in a position to take advantage of the improving economic position, while being robust enough to weather trading conditions, which remain tough."
Saltrock was originally set up by Angus and Ross Thomson in 1988, who began printing their own surf t-shirts in order to fund winter surfing trips.
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