Quantuma’s Terri Mulgrew and Michael Kiely were appointed as joint administrators on 22 September 2026, following a marketing and planning period, to enable a smooth transition. The sale saw all seven staff transferred to the purchaser, A Beauty Inc Ltd, part of the AA Investments group, under TUPE regulations.
Established in 2015, Laced Europe established itself as a popular online marketplace for customers across the UK and Europe for authenticated trainers, streetwear, and luxury goods from some of the world's biggest brands. It focused on connecting buyers and sellers of limited-edition and hard-to-find products and became well known as a platform for buying and selling rare trainers. Turnover of the company was reported as £9m in 2026.
In recent years, Laced Europe experienced several challenges, with its rapid expansion being followed by a sharp deterioration in market conditions. After raising over £15m and significantly increasing its workforce, warehouse capacity, marketing and technology costs, the business became reliant on achieving high transaction volumes to cover its large fixed-cost base. From late 2022, reduced consumer spending, inflation, increased competition and rising courier costs squeezed both sales and profit margins.
The company was also affected by Brexit-related issues, which placed further pressure on cash flow. Although management attempted to reduce costs, these measures were insufficient to reverse the losses. Ultimately, the company ran out of working capital, was unable to secure further investment in a more difficult funding environment and could no longer meet its liabilities as they fell due, resulting in insolvency.
Following an accelerated sales and marketing campaign, joint administrators from Quantuma were appointed and secured the pre-pack sale of the Company.
A spokesperson for the AA Investment Group, commented:
“Laced is a strong brand with a real community behind it. We are proud to continue this journey and to welcome the team into the AA Investments family. Customers and sellers can continue to use the platform as service is coming back step by step while we work on its next chapter.”
Terri Mulgrew, joint administrator and associate managing director at Quantuma, responded:
"I am very pleased to have achieved such a positive outcome for this online retailer, ensuring that all employees' jobs have been saved. We are delighted to have secured the long-term viability of the business, allowing it to continue its journey. We wish the team every success in their next chapter."
