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Concept Acquires Crabtree

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HAWORTH, UK (November 5) – Crabtree Sports and Leisure has been taken over from the Receiver by Concept Cycling Ltd. Crabtree had been forced into Receivership after the failure of its parent Company Action Leisure plc. A new company has been formed which acquired the Crabtree assets and is a wholly owned subsidiary of Concept […]

HAWORTH, UK (November 5) – Crabtree Sports and Leisure has been taken over from the Receiver by Concept Cycling Ltd. Crabtree had been forced into Receivership after the failure of its parent Company Action Leisure plc. A new company has been formed which acquired the Crabtree assets and is a wholly owned subsidiary of Concept Cycling Ltd. Although Concept have acquired all rights in the Crabtree name, the Company will change its name to Acorn Sports & Leisure UK Ltd.
Concept have not taken over responsibility for payment of Crabtree’s creditors. Julian Pointon who was the MD of Crabtree, will stay on to head the new Acorn Sports & Leisure company. Crabtree Sports and Leisure, with an annual turnover of GBP 6.5 million (US$9.2mn;EUR 10.9mn), employed 55 people who’s jobs are said to be safe in the new company while there’s also no relocation of the company.(JO)

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