Business advisory firm Quantuma has completed a pre-pack administration sale of Atlas Worcester Warriors Rugby Club, securing the future of the club and protecting more than 60 jobs.
Quantuma MDs Brian Burke and Andrew Watling were appointed as joint administrators of Atlas on 24 April and completed the sale of its business and assets shortly afterwards to Junction 6 Limited.
Loxwood Holdings, a group company that owns Wasps RFC, stepped in last May to financially assist Atlas in completing its purchase of the former Worcester Warriors club from its administrators.
This financial assistance was intended to be a short-term position to help support the eventual recovery of Worcester Warriors and to allow Wasps a short-term option to play at Sixways Stadium in Worcester.
Unfortunately, despite this assistance – which included funding to meet the operational costs of the stadium – Atlas was unable to meet its ongoing financial obligations and entered into an insolvency process.
The purchaser of Atlas is part of a newly incorporated group of companies, funded by Loxwood Holdings with support from the local business community – several of whom have become shareholders in the new group.
Joint administrator Brian Burke said: “The sale secures the continued trading operation of the stadium, with funding being provided to energise the commercial operation and support active steps to return to elite level rugby as Worcester Warriors.
“I’m delighted to have achieved such a positive outcome, ultimately preserving all jobs with no disruption to ongoing stadium operations.
“This also provides the opportunity to actively expand the operations at the stadium.
“We look forward to seeing Sixways become the thriving community asset that it can be.”
Chris Holland, director of Loxwood Holdings, added: “We’d hope that the community will flood back to Sixways under its new ownership and support what is an amazing sporting and conference and events facility.
“We’ve engaged and obtained the support of the Worcester Warriors Foundation and the Worcester Amateur club.
“Professional sport is important to Sixways and to Worcester. The support of the business community and the Warriors supporters is not taken for granted, and is of huge importance to us.”
