Administrators MCR confirm successful sale of intellectual property and assets to Rayware Limited, while all Typhoon staff have now been made redundant.
Paul Williams and Philip Duffy of MCR were appointed joint administrators of the company on May 25, 2010, with the sale to Rayware completed just two days later on May 27.

According to MCR senior manager Paul Corlett, a number of parties expressed an interest in buying the company but Rayware's was "the preferred bid". As a result of the sale, around 30 employees at Typhoon were made redundant on Friday, May 28.

Paul Williams commented: "In this difficult market we are delighted to confirm the sale of the Typhoon brand and certain assets to Rayware Limited. Through an effective administration process we secured the future of an iconic UK brand, which has a long history and association with quality houseware products found in some of the best high street stores. Unfortunately, we were forced to make all staff redundant as Rayware Limited acquired the assets only."

Meanwhile, Typhoon Housewares director Anis Asghar, who was appointed to the board in December 2009, has set up a new company under the name of Typhoon Global, registered to the same Chessington address. DIY Week has been unable to establish the ownership of the company, which was incorporated on May 11 of this year, or its relationship to Typhoon Housewares.

Typhoon fell into administration in 2007, making all 89 of its employees redundant. The kitchenware brand cited a breakdown in its relationship with TV chef Jamie Oliver's licensing operation, Fresh Retail Ventures (FRV) as one of the reasons for its collapse but was later saved by founder Peter Battersby, who bought the company's assets and was appointed chairman.