The future of Party Pieces Holdings Limited, the online retailer of decorations, party supplies and personalised gifts, has been secured following a sale of the business and assets to Teddy Tastic Bear Co Ltd, one of a number of businesses owned by the entrepreneur, James Sinclair.
Party Pieces was founded in 1987 to create imaginative parties for children. The business subsequently grew to curate products including party decorations, tableware and personalised gifts.
The Company was incorporated in September 2019, but trading was impacted significantly during the COVID-19 pandemic. With pressure on liquidity increasing, the directors sought to explore sale, refinance and investment options.
Will Wright and Chris Pole from Interpath Advisory were appointed joint administrators to Party Pieces Holdings Limited on 18 May 2023. Immediately following their appointment, they sold the business and its assets to Teddy Tastic Bear Co Ltd.
Will Wright, head of Restructuring at Interpath Advisory and joint administrator, said: “Party Pieces is a well-established brand with a proud British heritage, but like many other companies across the retail space, had been impacted profoundly by the effects of the pandemic and the ensuing restrictions on social gatherings. We’re pleased to have been able to conclude this transaction which sees the business acquired by James Sinclair. We wish him all the very best for the future.”