Birmingham-based online retailer WAE+ has gone into administration after coming under pressure from creditors.
A source close to the matter has told PCR that WAE+’s assets have been purchased by Justina Richards – the director of Grab Me That, and Mevish Aslam, who is the etailer’s former EMEA procurement manager.
The source also revealed that 14 jobs have been saved and the firm intends to start trading under another name soon.
The etailer told PCR in August that it intended to become a £100 million company as it looked to bridge the gap between indies and Amazon.
Insidermedia.com reports that Imogen Davidson from Baines & Ernst Corporate was appointed administrator on September 2nd. Davidson told the publication that WAE+ was ‘under increasing pressure from creditors’.
PCR has reached out for more details on the matter.