8th July 2009

Sharpnet buys Elvi

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Sharpnet Limited, a retail business based in Bolton has saved over 140 jobs after buying Elvi, the UK’s largest independent plus size women’s fashion retailer. The chain fell into financial difficulty earlier this year and was put into administration by its directors in February 2009.

The business and assets of Elvi, have been acquired by Sharpnet, from joint administrators Jason Elliott and Gary Bell, of the Manchester office of Cowgill Holloway Business Recovery LLP for an undisclosed sum.

Jason Elliott, joint administrator said: “We are pleased to have achieved a sale in such a tough economic climate. The business has traded successfully under the administrators guidance for the last four months and although in that time it has been necessary to make redundancies and close some of the outlets, the historical trading performances of the remaining shops and concessions should now ensure the long term future for Elvi, its remaining employees at the various outlets throughout the UK and its loyal customers.”