Around 200 jobs have been saved after a giftware importer was bought out of administration.
Yorkshire-based CB Imports Limited, which trades as Country Baskets, called in administrators from Grant Thornton last Thursday.
It had been badly hit by the pandemic and lockdowns.
READ MORE: {}
Family-owned APAC, based in Rothley, north Leicestershire, has now stepped in to buy the majority of the business and its assets.
It means five of its eight stores – in Leeds, Astley near Manchester, Stourbridge near Birmingham, High Wycombe and Glasgow – have transferred to APAC, helping secure around 200 jobs.
However three sites in Bristol, Gateshead and Loughborough will close, with the loss of 50 jobs.
Established in 1990, and headquartered at East Ardsley, near Leeds, Country Baskets imports floral supplies, giftware, glassware, silk flowers, pottery, homewares and seasonal products.
APAC was set up more than 60 years ago and sells to the florist, party, garden centre and horticultural industries.
Most Read
Sarah Wragg, managing director of Country Baskets, said trading had been challenging for some time, made worse by the global pandemic and local lockdowns meaning that the business has had to close for prolonged periods in recent months.
She said: “I would like to thank each and every member of our staff for their dedication, commitment and support that they have shown the company through these very difficult and unprecedented times.
“Although I am very sad that we are closing three of our stores, I am pleased that the future of Country Baskets is now certain securing around 200 jobs.
“As we approach 2021, I am confident that the new the company will continue to provide great value services and products and look forward to what the future holds for Country Baskets.”
Administrator Chris Petts from the Leeds Grant Thornton office said: “We are very pleased to have completed a going concern sale of large parts of the business, which secures the continued employment for a loyal workforce in these challenging economic times, particularly in the run up to Christmas.
“APAC appears to be a very good home for the business and will hopefully oversee a turnaround in its trading fortunes.”
The administrators were advised on the transaction by the Pinsent Masons team in Leeds.
APAC was advised on the transaction by Gateley in Birmingham.