Essential reading for retailers and suppliers in the home improvement market

Fads finds a buyer

Published: 19 January 2009
Crewe-based decor retailer snapped up by Strategic Retail director Roy Gabbie for bargain price of just over £1.5m.
Fads finds a buyer
Roy Gabbie will reportedly pay just over £1.5m for the stores he is purchasing in the Fads, Leveys and Texstyle chains.

The Strategic Retail director will acquire more than half of the 47 DIY and soft furnishings shops plus fixtures and fittings via his company Divalimit Ltd. The deal also includes the purchase of company vehicles and stock, which, in addition to the stores, have a book value of £3m.

Fads Trading Ltd, which was acquired by Strategic Retail in 2003, called in administrators on December 12, joining the long line of retailers struggling in today's economic crisis.

Jonathan Avery-Gee, senior partner of accountancy firm Kay Johnson Gee was appointed administrator of the high street retailer.

Gordon Rees of Kay Johnson Gee said of the deal: "We were contacted by an interested party – Divalimit Ltd, who was interested in buying the company.

"An offer was made for the stock, based on the retention of the title. This was accepted by our agents."

Mr Avery-Gee told that 20 Fads stores had closed – some of which are in Scotland and connected with Texstyle World – and around 170 employees had been made redundant.

He added: "Fads is now trading as normal and has taken on about 120 members of staff. As far as the company is concerned this is a good deal."


Published prior to March 2014
By shane
it was my best ever job it was such a shame when they did go into administration

(Your email address will not be published)
2 + 1 =  
Already Registered?
Sign In
Not Yet Registered?
Printable View E-mail Bookmark

Latest reader comments

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

re: SX Rainproof Exterior Caulk

I need the exterior sx rain resistant caulk! Can't get it anywhere so please help! How can I order it? Need it yesterday...

re: BCT can replicate any material in a ceramic tile

Christina Tiritanou
Not sure if you can help as I require a tile which has the measurements of 6”x 6”? Thank you....

re: Latest update on Green Homes Grant and implications for homeowners and landlords

colin thompson
SarahVery clear and helpful information.Thanks...

Most read stories