Consumer brand Ollie Quinn saved from closure

The UK-arm of direct-to-consumer eyewear brand and optician chain Ollie Quinn UK Limited has been sold out of administration, saving 80 jobs.

Under the terms of the sale, OQ Eyewear Limited acquire the business and assets of the company, as well as a two-year licence to use the Ollie Quinn brand name in the UK.

Commenting on the sale, Andrew Hook, joint administrator and partner at Begbies Traynor in Salisbury, said: ‘Every possible effort was made to save the company as a going concern, due to the goodwill and future prospects of the business.

‘However, with the company carrying debt and high operating costs in a challenging trading environment, this sale represents the best possible outcome in the circumstances and is due in no small part to the directors seeking advice early.’