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Another positive outcome for our Corporate Recovery Team

11th June 2019

Scottish Financial News Article

We are delighted to announce that we have managed to secure a positive outcome for the owners of JAC Vapour after they were faced with a challenging cash position. The retailer and manufacturer of high-quality electronic cigarettes has been brought out of Provisional Liquidation by Magflo Limited, a connected party, for an undisclosed sum. Magflo will continue to trade as JAC Vapour with many employees being offered continued employment, helping to protect jobs and ensure a continuity of service delivery across the business.

Partner Richard Gardiner, our Head of Corporate Recovery, who was appointed Provisional Liquidator for JAC Vapour Ltd said: "The Company explored various options to secure the long-term future of the business, however the challenging cash position was such that Liqudation was the only viable option. We are delighted that our collective efforts have resulted in successfully protecting some of the jobs at risk. I would like to thank all members of staff for their co-operation and commitment during this difficult transitional period".

Emma Logan of Magflo Ltd said: "We are thrilled that we have beem able to purchase the business and assets of JAC Vapour Ltd to enable us to continue to trade this fantastic brand. Magflo Ltd will continue to design and engineer the same high-quality vaping goods that JAC Vapour is known for with first class product engineers, with new product developments due to launch end of this year, and continue to provide the same excellent customer service that the brand is known for to JAC Vapour’s loyal customer base; both B2C and B2B. All customer product warranties and guarantees will, of course, be honoured. We look forward to growing the brand and to future success”