The Leeds-based company specialises in direct mail and associated services such as data services and fulfilment.
RNB (Group) Ltd had filed a Notice of Intention to Appoint Administrators (NOI) on 8 August, with administrators from Begbies Traynor appointed on 21 August.
The business had been facing mounting cash flow issues and the directors called in Begbies Traynor to market the business.
Joint administrator Bob Maxwell of Begbies Traynor commented: “RNB Group is a long-established and well-known Leeds business which simply ran into some short-term cash flow problems.
“Fortunately, we were able to act swiftly to market the business and conclude a sale for it as a going concern. It’s great news for the staff, suppliers and customers that the business will continue in the hands of new owners.”
Begbies Traynor said there had been “substantial interest” in RNB from potential buyers, with the sale agreed in just two weeks.
The business has been sold to newco PDMF Ltd, which was established by Robert Metcalf on 20 August. The sale completed on 23 August.
Further details about the nature of the transaction were unavailable at the time of writing.
Metcalf had been a director of RNB (Group) Ltd from 26 January to 23 November 2023.
He is the brother of RNB managing director Ryan Metcalf.
Earlier this month Eddisons had marketed an unnamed print and mailing business, understood to be RNB Group, under the name of ‘Project Send’.
It stated the business had sales of around £5.4m in the financial year to September 2023, down from nearly £7m in 2021 when it made a loss of £1.25m. In 2022 the business effectively broke even, and according to the draft figures provided by Eddisons made a loss of just over £300,000 last year.
The Eddisons memo stated that a sale would be “via an administration process”.
RNB operated from 5,575sqm premises on the Silver Royd Business Park.
Begbies Traynor said that all 30 employees had transferred to PDMF, which will continue to operate from the site.
At the time of writing Ryan Metcalf had not commented. He co-founded the business in 2005 and bought out fellow director Bob Rhodes six years ago.
The firm’s website was down for maintenance, and employees now answer the phone as “Innovate”.
LCF Law provided advice to Begbies Traynor’s Maxwell and joint administrator Louise Longley, while Freeths represented the acquirers.
