LEGAL | Staff Reporter, UK

Wrapchic bought out of administration

The chain was founded in 2011.

Wrapchic has been bought out of administration, minimising the number of store closures.

The business was purchased by Zampor Limited, whilst its intellectual property was assigned to Fairway Commerce Limited. Both companies are registered with the same address as Wrapchic in London.

The 27-strong group appointed insolvency firm Parker Andrews Ltd as administrator in 26 July following "issues" with some franchisees.

"The sale minimises the number of store closures, providing continuation for the majority of franchisees and jobs for their staff, whilst minimising potential claims from affected landlords," Parker Andrews joint administrator Nicholas Cusak said.

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