Tue, 17 Aug 2021 | ADMINISTRATION
Lincolnshire trailer manufacturer Fruehauf Ltd has entered administration, with a buyer or investor now being sought for the firm. Fruehauf, which is headquartered in Grantham, produces a range of rigid and tipper trailers, as well as providing quality control systems.
The company was founded in 2010 and, in its most recent financial reports covering the year to September 30 2019, reported post-tax losses of £439,661 on turnover of £23.7 million. At the time, the company had £1.3 million in fixed assets and £8.2 million in current assets. After liabilities, the firm’s net assets stood at £1.9 million.
Quantuma’s Carl Jackson and Tauseef Rashid have been appointed as joint administrators to the firm, along with Brian Johnson of UHY Hacker Young. The administrators are exploring options including a potential sale of the firm or a company voluntary arrangement (CVA).
The company’s employees are currently on the government’s furlough scheme with no redundancies having yet been made and no sites forecast to close due to the administration. The company employs around 100 staff at a 64-acre site.
Joint administrator and Quantuma Chief Executive Carl Jackson said: “I can confirm we were appointed as joint administrators to Fruehauf Ltd earlier this month.
"We are now exploring opportunities to secure the long-term future of the business and deliver the best possible outcome for all staff and stakeholders. Options being considered at this stage include a potential sale or further investment from external parties.”
View the latest distressed UK businesses here.
This is a well-respected business in the UK’s resin sector. Environmentally conscious products for commercial, industrial and domestic use.
With an enviable client base of major PLCs and SMEs across precision sectors, this diverse business generates revenue from multiple services. These include the design and manufacture of custom built laser processing machines, a range of standard work...
A reputable and lucrative manufacturer of exterior joinery schemes for gardens and landscapes, supplying quality, ready made timber garden products. The business has a diverse client base of designers and architects, trade and end-user customers, all...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.