Furniture and accessories importer and wholesaler Geko Products has been sold in a pre-pack deal after entering administration.

The company, which is based in Newark and operates a 10,000sqft warehouse facility, appointed Opus Restructuring as administrators on 3 March 2025.

Upon appointment, the business was sold to Teal International.

A statement said: “Geko Products entered administration on 3 March 2025. Upon appointment, Opus completed a pre-packaged sale of the Company’s business and assets to Teal International, ensuring continuity for customers and suppliers.

“This transaction preserved one employee’s role that would have otherwise been lost and secured ongoing supplier arrangements, positively impacting creditors as a whole. Additionally, the continued occupation of the company’s trading premises has provided further stability.

“This outcome represents the best possible result in challenging circumstances, safeguarding value for creditors and ensuring continuity for stakeholders.”