MCR completes sale of renowned housewares brand

MCR completes sale of renowned housewares brand

MCR, the administrators for stylish kitchen accessories designer Typhoon Housewares Limited ("the Company"), has announced the successful sale of its Intellectual Property and assets to Rayware Limited, which was completed on 27 May 2010.

Typhoon's brand recognition is second to none in the industry, with its products consistently shown on television cookery and lifestyle programmes. Paul Williams and Philip Duffy of MCR were appointed Joint Administrators of the Company on 25 May 2010. The Company's brand is supplied to the cream of retailers including leading department stores, gift and cook shops throughout the world.

Paul Williams of MCR commented: "In this difficult market we are delighted to confirm the sale of the Typhoon brand and certain assets to Rayware Limited. Through an effective administration process we secured the future of an iconic UK brand, which has a long history and association with quality houseware products found in some of the best high street stores. Unfortunately, we were forced to make all staff redundant as Rayware Limited acquired the assets only."


About MCR
MCR was formed in April 2001 to offer turnaround, restructuring and insolvency services of outstanding quality to banks, lenders, business owners and individuals in the mid-market sector. It aims to provide the most practicable ways to resolve issues affecting business performance.

The firm has 13 partners who practice an ethos of high-level involvement to ensure that each assignment capitalises upon the expertise and knowledge of the whole team.

MCR regularly handles significant projects across a range of sectors and has been involved in a number of high profile cases. MCR is increasingly being asked to restructure businesses and find turnaround solutions to help companies avoid formal insolvency. Sectors include retail, financial services, property, manufacturing, printing, recruitment, hotels, leisure, e-commerce, automotive, telecommunications, music, entertainment and construction.

For more information, www.mcr.uk.com

For further information, please contact:
Richard Merrin / Luke Derbyshire
Spreckley Partners Limited

T: 0207 388 9988
E: merrin@spreckley.co.uk
E: derbyshire@spreckley.co.uk