Devon-based leisurewear and accessories retailer, Saltrock Surfwear has been acquired by Crew Clothing Co. Group, the British lifestyle brand and retailer of casual wear for men and women. 

KPMG LLP assisted management during the sales process. As part of the transaction, David Pike and Mark Orton from KPMG were appointed joint administrators to Saltrock Surfwear Limited. Immediately upon their appointment, they concluded a sale of the business and assets to a subsidiary of the Crew Clothing Co. Group.

Following the sale, 25 stores and 162 employees will be retained. Unfortunately, 5 stores will close and 29 redundancies have been made.

David Butler, Crew Clothing’s Chief Executive Officer, comments, 'We are delighted to announce that we have acquired Saltrock the well established Surfwear retailer with a strong South West presence and in doing so pleased to have been able to protect the future of the brand and more importantly a significant number of the current employees of the business. Through this transaction we have now added Saltrock to our growing and successful business portfolio. It presents us with a huge opportunity and allows us to maximise our supply chain and operations giving great potential to the Salt Rock brand. We welcome their employees to our team and we aim to make the transition as smooth as possible for them.'
 

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