Almost 40 jobs have been saved after a trampoline park, Bounce Health and Fitness, in Derby, UK, was sold out of administration.
Richard Pinder and Sean Williams of Leonard Curtis Business Rescue and Recovery were appointed as joint administrators to the park.
A statement from Leonard Curtis said: "The business entered administration as a result of high fixed costs, increasing insurance costs and a reduction in revenue which meant the company suffered a build-up of trade liabilities.
"The directors had made attempts to raise additional working capital but given the company’s financial position this was not possible. Legal action was imminent and therefore appropriate steps were taken by the director to preserve the business.
"After a period of marketing, the administrators concluded a pre-packaged sale of the company’s business to a connected party. This resulted in the transfer of all 38 employees to the new purchasing entity."
