More than 300 jobs saved at major nursery operator through a pre-packaged administration sale

Begbies Traynor has advised on the successful sale of 26 nurseries during the pre-packaged administration process for Welcome Nurseries, one of the largest operators in the United Kingdom.

On 8 August 2022, Asher Miller of Begbies Traynor, working alongside Paul Weber of Leigh Adams Limited, was appointed as Joint-Administrator to conduct the pre-packaged administration of Welcome Nurseries.

In a statement, Begbies Traynor said: "Following a period of rapid expansion, Welcome Nurseries currently operates 32 sites across the north of England. The extensive period of disruption and uncertainty caused by the global pandemic left the business unable to meet its ongoing operating costs and repay the deferred consideration owed following the acquisitions completed pre-pandemic.

"Together, the Joint Administrators were able to secure the sale of 26 of the sites, in a very short period of time, through a pre-packaged administration sale to the Harp Group, newly set up by the successful entrepreneur, Simon Fox. The acquisition, which has the support of Linda Cuddy, the founder of Welcome Nurseries, completed on 8 August 2022 and saved the jobs of over 300 dedicated staff and ensured the seamless ongoing nursery care for around 450 children."

"Despite a positive outcome for the majority of the sites, six were unable to be purchased by the Harp Group meaning they have had to be closed. Where possible, Welcome Nurseries will support families seeking alternative arrangements for those children affected."

Asher Miller, a Joint Administrator from Begbies Traynor, commented: “I am so pleased to have been able to secure a quick and positive outcome for the majority of the staff and children at Welcome Nurseries. Simon is an experienced business operator and is passionate about education and I have no doubt that the 26 nurseries acquired by the Harp Group will continue to flourish and to provide first-rate education to their many children.”

Simon Fox, Director of Harp Group, commented: “I am delighted to have been able to take this opportunity to acquire Welcome Nurseries. We are excited about investing in putting Welcome back on a sound financial footing and re-establishing it as one of the foremost nursery groups in the UK, building on the hard work and experience of Linda Cuddy and her team.”