Received an email: 28 January 2011: Tom Lukic and Ian Best of Ernst & Young LLP were today appointed Joint Administrators of the Thomas Sports Group, a distributor of branded motorcycle clothing and accessories. The Group, which supplies to both UK and European markets, has circa 70 employees and operates from freehold premises in Finedon, Northamptonshire. Tom Lukic, Joint Administrator, said, "The difficult trading conditions experienced during 2010 combined with a number of issues which impacted on the Group over the same period created liquidity problems in the business. Despite actions taken to restructure the business and reduce the cost base, the Group was unable to continue to trade in a manner that enabled it to continue to meet its liabilities as they fell due. The directors as a result requested the appointment of Joint Administrators to the Group." He added, "We are currently working with the Group's directors and management team to understand the current position in more detail and explore all options. Following the appointment of Joint Administrators to the Group, our initial strategy has been to seek a buyer for the business and assets of the Group as a going concern and we are already in dialogue with a number of potentially interested parties in this regard."
Every bit of kit I've ever had that was branded Frank Thomas was shite, good bloody riddance. If you try and sell crap you will eventually come a cropper.
Still a bloody shame, FT used to be good stuff, but with George White giving away a bucket load of FT stuff with nearly every Bike they sell, you have to wonder what price they are getting it for!!!!
