Fri, 25 May 2012 | ADMINISTRATION
B3 Industries Ltd has entered administration, with Colin Haig, Paul Flint and Allan Graham from KPMG appointed to oversee the restructuring of the group.
The firm was the parent company of the Manchester-based B3 Cables site, Tri-Wire in Yorkshire, and subsidiaries with operations in other countries, including Germany, Sweden and Spain.
However, reports from The Business Desk reveal that all of the company's subsidiaries are continuing to trade as normal, with no redundancies made, suggesting that the administration is likely to predominantly affect the parent company alone.
B3 Industries Ltd was owned by former Aston Ventures partners Paul Ruocco, Douglas Barrowman and Tim Eve, along with members of its own management team. However, the single largest shareholder was ex-Tri-Wire boss Michael Walton, who held around 20 per cent of shares. The initial buy-out of the Manchester Cables business, which traded as B3 Cables, was arranged by Aston Ventures in 2011 after Belden Cables – its former US parent company – announced plans to close the site.
There are no trading figures reported in the company's accounts, but the last filed reports for Manchester Cables show a pre-tax profit of £1.1 million on sales of £97.4 million in the year to 31 October 2010.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.