Clugston Distribution Services was not part of the insolvency process and continued to trade as normal even though the parent company fell into administration in December 2019. It has now been acquired by AJWG Limited, securing the jobs of 153 employees.
The buyer, AJWG Limited, is owned by Lindsay Khan and Demis Ohandjanian, who are chairman and chief executive respectively of investment house HLD Group, which buys and sells mid-size businesses. Demis Ohandjanian also once played up front for Doncaster Rovers – but only once, in 1997, playing as a substitute in their 2-0 defeat away to Northampton Town, according to his Wikipedia entry.
James Clark, joint administrator of Clugston Group, said: “This sale represents a positive outcome for Clugston Distribution, its stakeholders, and for the local area. A solvent sale ensures ongoing trade for the business, its supply chain, and, furthermore, helps secure jobs for the incumbent workforce. The deal is testament to the considerable efforts of the senior management team at Clugston Distribution and my colleagues who have worked tirelessly to secure the future of the business.
“Of course, there is still much more work to do. We continue to explore all options as we look for buyers for the contracts and divisions in administration.”
Clugston Group Limited, Clugston Construction Limited and Clugston Services Limited remain in administration after the appointment of administrators from KPMG in December 2019. Clugston Estates Limited is unaffected by the administration and continues to trade under the control of its directors.