Exercise underwear retailer Runderwear, headquartered in the Midlands, has recently undergone a pre-pack sale due to financial struggles. Chambers Ling, the previous owner, had accumulated debts totaling £1.3 million, leading to the decision to call in administrators at the end of November. The sale was ultimately finalized at a mere £80,000 and the luxury lifestyle brand, Masters of Mayfair, acquired Runderwear. Throughout this transition, RSM Restructuring Advisory has been overseeing the operations of the company.

According to documents provided by the administrators, Chambers Ling had outstanding debts to a total of 32 creditors. Notably, these included over £80,000 owed to HMRC, more than £24,000 to Amazon, and £25,500 to American Express. Runderwear operated primarily as an online retailer, utilizing platforms such as Google, Facebook, Amazon, and their own website to sell their products. The administrators cited rising costs within the e-commerce industry, exacerbated by the challenges brought on by the COVID-19 pandemic, as the primary cause of Runderwear’s financial hardships.

While Masters of Mayfair specializes in sleep and travel products, they have not yet disclosed any specific plans concerning the integration of Runderwear into their portfolio. It remains to be seen how this acquisition will enhance the offerings of Masters of Mayfair.

Useful links:
1. Runderwear Official Website
2. Masters of Mayfair Official Website