A furniture and accessories wholesaler has been sold in a pre-packaged deal following its entry into administration. The business, which operates a 10,000 sq ft warehouse, appointed Opus Restructuring as administrators on 3 March 2025.
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Geko Products, based in Newark, was immediately sold to Teal International upon the administrators' appointment. A statement confirmed that the sale ensured 'continuity for customers and suppliers' while preserving one employee's role that would have otherwise been lost.
The transaction also secured ongoing supplier arrangements and allowed continued occupation of the company's trading premises, providing further stability. Opus Restructuring described the outcome as 'the best possible result in challenging circumstances', safeguarding value for creditors and ensuring continuity for stakeholders.
Source: www.bigfurnituregroup.com