Union Market was up for sale before it fell into administration, the administrators report has revealed.

The London-based retailer-cum-farmers market, which fell into administration in February, had appointed a third party “in an effort to find any interested parties for the sale of the shares, or business and assets of the company”, joint administrators William Batty and Stephen Evans wrote in the report.

Their report also revealed Union Market went bust with debts of £1.2m. Staff had not been fully paid since December 2011. Some 41 staff lost their jobs. Sales between July 2010, when it opened, and March 2011 totalled £1.2m.