Posted on 6 August 2014
R J Design Studio Limited – an award-winning creative design agency – has been placed in administration with accountancy and business advisory firm Smith Cooper.
The firm, which operates from a Derbyshire based purpose built 17,500 square foot modern studio, works alongside both national organisations and local businesses offering a fully outsourced comprehensive marketing service. During trading the business built an excellent reputation and was voted a top 100 design agency by both The Drum and Design Week
Despite their success in the market, the company encountered cash flow difficulties and the director was left with no choice but to seek advice, approaching Michael Roome, Director of Business Recovery and Insolvency at Smith Cooper, one of the Midlands’ leading firms of accountants and business advisors, in June 2014.
Michael commented: “My first priority is to rescue a business as a going concern and following an accelerated marketing process, I am pleased to say that an offer was accepted which has secured the continuity of the business and the jobs of all employees. RJDA can now continue to provide a high quality service and can continue to build upon the brand it had established in the industry.”
Caroline Walker, Managing Director at RJDA Limited, added “despite recent events it is clear that we have a very successful underlying business and I am confident that following this restructure we can move forward and continue to be successful, enabling us to provide the high quality of service for which we are renowned”
Smith Cooper were assisted in undertaking the transaction by Ian Gill and Doug Highet at Eversheds in Nottingham. RJDA were advised by Carl Mifflin, Insolvency Partner at Howes Percival, together with Paul Goodman at Goodman Corporate Consultancy.