Moorfields complete successful sale of Premium Electronic Cigarette Retailer saving over 40 Jobs
Administrators at Moorfields Corporate Recovery have rescued a struggling electronic cigarette retailer through a pre-pack administration.
Simon Thomas and Shelley Bullman of leading restructuring and insolvency firm, Moorfields Corporate Recovery LLP, were appointed administrators over iSmoko UK Limited.
iSmoko is a premium retailer of electronic cigarettes with 15 kiosks located across shopping centres around the UK including Suffolk, Buckinghamshire and Kent.
Moorfields advise that the business and assets of the company were sold on the 16th August 2013, the purchaser will continue to trade under the “Smoko” brand.
Simon Thomas, Joint Administrator at Moorfields “We are pleased to announce the sale of iSmoko. With consumers looking more closely at their disposable income, a number of people are looking to cut back on smoking. As a result the electronic cigarette industry is expected to grow rapidly over the next 2 years. This provides a great opportunity for the purchaser.
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