Apollo 2000 stores across the West Midlands have been handed a lifeline after administrators secured the sale of the business’ assets to East Anglia-based company Hughes Electrical.
The electrical appliance firm went into administration last month, along with Worcestershire-based company Arrow Distributors, resulting in 12 Midlands stores being closed and a majority of the 180-person workforce being made redundant.
Hughes Electrical has a portfolio of 34 retail outlets and five service depots across East Anglia and this transaction is part of a view to expand its services into the Midlands area.
Robert Hughes, managing director of Hughes Electrical, said: “We have long admired Apollo 2000 as, like us, they have well trained and experienced staff who put customer needs first. Our customers and shops will benefit greatly from their expertise in kitchen appliances and we will provide Apollo customers with an increased range of vision and audio products. This is a good marriage of two well respected retailers.”
Plans are for Apollo 2000 to commence trading in eight of the previous 12 stores under the new parent company shortly after Easter.
These sites include stores in Cannock, Redditch, Sutton Coldfield and West Bromwich.
Will Wright, director at KPMG, administrators for Apollo 2000 , said: “We are delighted to have concluded this sale which we hope will see the Apollo 2000 brand live on.
“This does not impact on the arrangements in place for the small number of customers who were affected by the company’s insolvency.”
Mark Orton and Richard Philpott of KPMG Restructuring were appointed joint administrators to Apollo 2000 and Arrow Distributors on 18 March.