Spymaster, the renowned London retailer of spying equipment, is looking for a buyer after the business sank into administration earlier this week.
The 26-year-old company, which operates from its Portman Square London store and concessions in Harrods and Selfridges, supplies equipment to international governments, organisations and security specialists as well as James Bond wannabes.
Its product range includes drones, covert cameras, bugging devices, body armour, vehicle tracking equipment and military watches, as well as larger items such as hovercrafts and miniature submarines.
“This sale provides a unique opportunity to acquire London’s foremost retailer of spy equipment, which has developed an excellent reputation and worldwide customer base. We are anticipating a strong level of interest from both the UK and internationally based purchasers,” said Roland Cramp, a director at commercial property consultancy Lambert Smith Hampton which has been instructed to sell Spymaster.
The firm said it is targeting retailers, private and overseas investors and investment companies to take over the beleaguered company.
Plans to develop the e-commerce side of the business coincided with a decline in turnover, resulting in cash flow problems which led to the appointment of David Rubin & Partners as administrator. Spymaster was still owned by two of its three original founders, Lee Marks and his nephew Jeremy Marks.
The entire business and assets of the company will be sold, including the Spymaster brand, stock and leasehold premises with the potential to assign the department store concessions.
As well as selling equipment, Spymaster also offers services from bodyguarding and sniffer dogs to lie detectors and private investigations. According to its website, it supplies “many more specialised services which we do not publish within our website to ensure confidentiality and effectiveness”.