We just received word from former Tough Mudder CEO Kyle McLaughlin that the Tough Mudder Europe team are back to work and are “restarting our engines over here”. He told us “We’ve resumed activity and operations and are aiming to have Europe ticket sales back online mid-week”. It appears that the 2020 Tough Mudder UK calendar will be completed in full, with the first Tough Mudder 5K happening on April 17-18 and the first Classic distance event taking place 40 miles west of London on May 9-10, 2020.
We reached out to Spartan CEO, Joe Desena who’s team have been working on the purchase of Tough Mudder. He told us “We have been leaning in for months and our goal is to have ticket sales up this week in Europe. We are hoping to quickly see this happen globally in the coming weeks. We leave no athletes behind!”
Kyle also sent us a press release which describes the legal process currently taking place in the UK, which is allowing all of this to happen.
You can read it in full, below.
Update: 12:15PM EST – Video interview with Kyles and Giles
Michael Solomons and Andrew Pear of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, were appointed as Joint Administrators of Tough Mudder Ltd on 24 January 2020. The Administrators are continuing to trade the business with a view to selling the business and assets, including its wholly owned German subsidiary, Tough Mudder GmbH, as a going concern.
Spartan Race has generously supported Tough Mudder’s administration process with the necessary funding required to resume trading. The Joint Administrators have engaged both Giles Chater and Kyle McLaughlin, formerly of the Tough Mudder Ltd management team, to support the business going forward whilst a sale is achieved. Under the Administrators, ticket sales are planned to re-open mid-week and the Tough Mudder team returned to work today.
Michael Solomons of BM Advisory commented: “Tough Mudder has a very strong brand and presence in the obstacle race industry. I am confident that a sale of the business will be achieved shortly and envisage that a purchaser will move forward with plans to deliver all existing events in the 2020 European calendar.”
Similar proceedings are underway in Tough Mudder’s US and Canadian entities. Events in other countries are not currently impacted.
Parties interested in purchasing the business and assets of Tough Mudder Ltd should contact Bryn Carroll of Gordon Brothers on 020 7647 5141 or email@example.com.
Stay up to date with all of the Tough Mudder news, and how we got to this point here.