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A British outdoor clothing and equipment company has secured new investment and completed a financial restructure, saving all 194 jobs across its retail, warehouse, manufacturing, and head office teams. The announcement came a day after the Nottinghamshire-based company revealed it had entered administration.

The business, which also owns the bike brand Sonder and recently acquired Scottish bagmaker Trakke, cited three years of financial strain as the reason for the move. Rapid cost inflation, a challenging retail environment, and new trade barriers while servicing post-pandemic recovery loans all contributed to its financial challenges.

To secure the company's future, Alpkit undertook a pre-pack administration, a process in which the company briefly enters administration to allow it to be purchased by a new investor.

The move has enabled the business to continue operating without interruption, with its stores and online orders unaffected. Since launching online in 2004, Alpkit has expanded to 10 stores across the UK.

Alpkit CEO and co-founder David Hanney confirmed that the existing management team remains in place, while new investor Jeroen van den Berge will join as a non-executive chair.

The company said, in a statement: "Financially, times have been tough. We've faced a 'triple threat' of macro-economic pressures over the last three years: rapid cost inflation, a challenging retail environment, and new trade barriers while servicing post-pandemic recovery loans.

"Our board has worked extensively over recent months to explore options and find a way to secure our future. This work has resulted in our securing new investment via a pre-pack process. The pre-pack process means that Alpkit briefly went into administration so that the company could be purchased by our new investor."

David Hanney, CEO of Alpkit: "While today is a day of reflection on the challenges that led to this restructure-and we deeply regret the impact on our creditors, partners and shareholders-it is also the start of a vital new chapter.

"Under new ownership, Alpkit becomes a well-funded, more resilient business. We are keeping our team together and our purpose unchanged: to help people Go Nice Places, Do Good Things."

Jeroen van den Berge, the new investment partner and Non-Exec Chair, said: "What excites me about Alpkit is the strong heritage and values, leading product credentials, direct-to-consumer model and loyal membership base.

"I also share the team's vision of Alpkit becoming a home to other complimentary brands, similar to what was achieved with Trakke. I look forward to supporting David and the team during the next phase of their exciting journey."