Trims by name, but not by nature – that’s the promise from the new owners of the liquidated family business that shut in May leaving a $3.2 million trail of debt.

Justin Trim, grandson of the company’s co-founder, told InDaily that while he had negotiated a proposed purchase of the trading name and goodwill of Trims, the new business would be run without any involvement by his father Russell.

He also revealed that Trims would leave its historic shop location – known as Trims Corner – in King William Street.

Justin’s partner in the yet-to-be-located new venture is Peta Thompson, who worked at Trims for more than 20 years as the marketing operations manager.

“Russell Trim is no part of the new business going forward,” Justin said after InDaily exclusively revealed the trading name sale yesterday.

“I ceased as a director of the family company some years ago; I wasn’t part of the decisions being made.

“It won’t be a family business going forward.

“There’s a lot of heritage and goodwill behind it and I want to return to the heritage style of the company’s founders Alfred and John Trim.”

“I have seen a progression of the family business away from the company my grandfather started 70 years ago.

“I am wanting to go back to the basics. Hard wearing quality workwear and footwear, with good customer service.”

The family company, established by twins Alf and John in Adelaide 75 years ago, went into administration in May this year and was liquidated shortly after, owing $3.2 million to unsecured creditors and $580,000 in staff wages and entitlements.

Its estimated $900,000 worth of stock is being sold off this weekend by the liquidator BRI Ferrier.

Late this morning a huge crowd gathered outside Trims for its liquidation sale.

Justin, 38, had been general manager of the business and was previously a director and secretary of Trims Finance Co Pty Ltd, the family company that owned the business.

The current business site at 322 King William Street is owned by a related family company.

“I wouldn’t know anything about that,” Justin said.

“We won’t be trading out of there; we are negotiating two sites at the moment so it will be some time before we get all that organised.”

Justin’s new business partner, Peta Thompson said the fallout from the collapse of the business had been difficult.

“We’ve had a lot of calls today from people upset that Justin’s bought the business name,” she said.

“But this isn’t going to be the family business – it’s Justin Trim in business with someone else.

“We just want to clarify that Russell is no part of it.”