An industry colleague advised me today that Power Plate International Ltd trading as ‘Power Plate’ has collapsed into administration. When I looked into this, Paul John Clark and Philip Francis Duffy of Duff & Phelps Ltd were appointed Joint Administrators on 24th September 2012. This is the same firm appointed to the Rangers football club administration.
Power Plate has a large celebrity following which was used to create strong demand among consumers for home versions of the equipment. The company has also made significant inroads into the commercial sector and only recently signed a nationwide deal with Pure Gym, the UK low-cost gym operator, to install 60 Power Plates across its club estate. The equipment is also very popular with personal trainers and elite sports performers.
As of today, it seems as though it is business as usual with existing stock being sold as I was able to add a domestic Power Plate to the main website shopping basket. More news to follow once I hear back from the Administrators.
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