Off Limits Corporate Events bought out of administration
Off Limits Corporate Events Limited, one of the UK’s largest events businesses for private and corporate clients, has been acquired out of administration. CN understands that former directors Martin Stephens (pictured) and John Tarr are behind the new group.
Ben Woolrych and Russell Cash, partners at the specialist business advisory firm FRP Advisory LLP, were appointed Joint Administrators on 5 February.
Upon appointment, the joint administrators secured the sale of the business and its assets to its sister company, Off Limits Group Limited, which specialises in European events and has traded alongside the business since 2015.
Founded in 1993, Off Limits Corporate Events Limited specialised in activities, teambuilding exercises, evening entertainment and bespoke events for corporate and private clients across the UK.
Commenting on the transaction, joint administrator Ben Woolrych said: “We have been supporting the directors since the business began experiencing financial difficulties and have worked closely together to market the business and its assets for sale to achieve a positive result for all parties. Most importantly this deal ensures the continuation of a significant number of jobs, and provides reassurance for customers, clients and suppliers as the business continues to trade.”
The business will continue to trade from its sites in Langley Mill and Moorgreen, Nottinghamshire.