The move comes days after the East Yorkshire firm faced a winding up petition from its landlord
An electronics business near Goole which last week faced an uncertain future through a winding up petition has been snapped up by Frasers Group. As previously reported last week, Howden Dyke based Ebuyer – which has had as many as 200 employees in recent years – was issued with a winding up petition by its landlord, the property investment company Urban Logistics Acquisitions 6 Limited.
Ebuyer UK Ltd was launched more than 25 years ago and became part of the empire of billionaire Malcolm Healey, who was originally from Hull and whose brother Eddie was behind development of the Meadowhall shopping centre. Over time, it established itself as one of the country’s top online retailers of products including PCs, laptops and accessories.
It became part of the Healey’s £1bn turnover West Retail Group business, alongside Wren Kitchens, which is also based near Howden. Ebuyer was sold to Realtime Holdings in 2023 – then owned by Cambridge-based investor Mark Reed and industry veteran Rich Marsden, in a £26m deal.
However, most recent accounts for 2023 show the company has had a challenging time, shedding 50 jobs that year after seeing turnover tumble from £174.2m to £136.5m, as well as reporting operating losses of £1.8m. The reason for the winding up petition has not been made public. Most recent accounts show it had around 190 employees in 2023.
Now, however, it has emerged that Frasers Group – the huge empire founded by retail tycoon Mike Ashley, who remains a significant shareholder – has swooped for the company. Tony Wright and Alistair Massey of FRP Advisory were appointed as joint administrators of Ebuyer (UK) on August 8, and the pair said Frasers Group bought the business out of administration and will link the Ebuyer website to the group’s Studio Retail business.
Tony Wright, partner at FRP Advisory, said: “Frasers Group has an established record of successfully taking retail brands forward and unlocking their potential. Ebuyer is a recognised name in the consumer technology space, and this transaction provides a platform it can use to reestablish its position as one of the UK’s largest PC components retailers.”
While the website is set to become part of Frasers Group, it has yet been revealed how staff at the business have been affected and whether they also transfer to the new owners. Ebuyer sells a wide range of digital technology equipment, including PC components, phones, tablets and games to consumers via its website.
It also has a business-specific arm that counts Chelsea FC, Pretty Little Thing and Wren Kitchens among its partners. Urban Logistics Acquisitions 6 Limited’s parent company owns a plethora of warehouse properties with big name occupiers such as Sainsbury, Volvo and Royal Mail, among others.