Typhoon brand and assets sold to Rayware Limited

(17/06/2010)

The administrators for stylish kitchen accessories designer Typhoon Housewares Limited has announced the successful sale of its Intellectual Property and assets to Rayware Limited, which was completed at the end of last month.

Paul Williams and Philip Duffy of MCR were appointed Joint Administrators of the Company on 25 May 2010. The Company’s brand is supplied to the cream of retailers including leading department stores, gift and cook shops throughout the world.

Paul Williams of MCR commented: “In this difficult market we are delighted to confirm the sale of the Typhoon brand and certain assets to Rayware Limited. Through an effective administration process we secured the future of an iconic UK brand, which has a long history and association with quality houseware products found in some of the best high street stores. Unfortunately, we were forced to make all staff redundant as Rayware Limited acquired the assets only."

Related categories:  Mergers & acquisitions