Alpkit has officially announced its new financial restructure and investment that secures almost 200 jobs after it was revealed yesterday that the outdoors company had entered administration.
The Nottinghamshire-based company, which also owns Sonder bikes, said the last three years “have been tough” financially. It faced rapid cost inflation, a challenging retail environment and trade barriers while servicing post-pandemic recovery loans.
“Our Board has worked extensively over recent months to explore options and find a way to secure our future,” Alpkit said in a statement released today.
This has resulted in Alpkit securing new investment via a pre-pack process. This process meant Alpkit “briefly went into administration so that the company could be purchased by our new investor”.
The investment secures all 194 jobs across Alpkit’s retail, warehouse, manufacturing and central teams.
Alpkit will continue to be led by its existing team with its incoming investor Jeroen van den Berge joining as a non-executive chair to support the company.
Alpkit CEO and co-founder David Hanney said: “While today is a day of reflection on the challenges that led to this restructure – and we deeply regret the impact on our creditors, partners and shareholders – it is also the start of a vital new chapter.
“Under new ownership, Alpkit becomes a well-funded, more resilient business. We are keeping our team together and our purpose unchanged: to help people Go Nice Places, Do Good Things.”
Van den Berge said: “What excites me about Alpkit is the strong heritage and values, leading product credentials, direct-to-consumer model and loyal membership base.
“I also share the team’s vision of Alpkit becoming a home to other complementary brands, similar to what was achieved with Trakke. I look forward to supporting David and the team during the next phase of their exciting journey.”
Alpkit’s statement today confirmed existing shareholders have lost the value of their shares, and that they will be offered a stake in the new company.
