UK-based drinks company Spirit.ed, formerly 31 Dover, went into administration earlier this year following a ‘difficult trading period’.
The firms in question, DMD Operations and Vanquish Operations, owned online retail site Spirit.ed. They also ran subscription business The Gin Club, and drinks wholesalers Vanquish and On Stock.
Colin Hardman and Clare Lloyd, partner and associate director respectively at Evelyn Partners, were appointed as joint administrators of DMD Operations and Vanquish Operations (the ‘companies’).
The companies’ directors placed the businesses into administration on 31 May 2022.
Hardman said: “Following a period of difficult trading conditions, the companies’ management had attempted to find a new strategic funder. Whilst we understand that negotiations were at a very developed stage, ultimately they were not successful.
“The joint administrators will therefore be aiming to realise the best possible value from the business and assets, in order to maximise the return to the creditors.
“Since our appointment we undertook a successful stock realisation strategy which is now substantially completed. We are in discussions with a number of interested parties in respect of the sale of the companies’ intellectual property including its brands.”
31 Dover relaunched as Spirit.ed in December 2021, with an aim to emphasise its focus on premium products. The brand refresh included a new website design.
The Spirit.ed website, drinkspirited.co.uk, states the website is ‘currently undergoing maintenance’.
Spirit.ed was founded in 2012 and grew to include a retail platform, a wholesale arm for the on-trade and off-trade, and a distribution agency.
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Author: Melita Kiely