Administrators appointed at Yorkshire engineering firm

Tue, 02 Apr 2019 | ADMINISTRATION



An engineering contractor from West Yorkshire has been forced to cease its trading operations and appoint administrators as a result of a string of financial difficulties.

Ambitemp (M&E) Limited entered administration on 22 March 2019 and called in financial advisory firm KPMG to handle the restructuring process, with partners Howard Smith and James Lumb appointed as joint administrators.

Providing mechanical and electrical engineering services, the company based in Huddersfield operated in all sectors in the building and construction industry, including in commercial, residential, official and government.

The company offered a range of services, including design, management, technical advice, cost planning and maintenance. Amongst some of their installations are fire protection and fire fighting systems, heating, mechanical ventilations, vibration and acoustic control and water treatment and filtration services.

However, due to insufficient working capital and the financial inability to sustain contracts, the business was forced to halt its operations and enter administration.

Smith, also an associate partner at KPMG, said: "The company experienced significant cash flow difficulties following the recent loss of a major contract.

"The company's financial performance was further exacerbated by a number of unprofitable contracts, which left the directors with little choice but to place the company into administration.

"We [the administrators] are on site to support the impacted staff."

The administrators are exploring options to ensure the future of Ambitemp (M&E) Limited, and are inviting all offers of interest from potential buyers immediately.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Engineering, Fabrication & Installation Services
UK Wide

A strong pipeline of confirmed work in place for the coming year. Operates as a principal contractor on projects of all sizes, with additional services include civil engineering and M&E solutions. Offers invited.

Asking Price: Offers Invited
Turnover: £11,600,000

FREEHOLD


Filtration & Separation Engineering Company
North of England, UK Wide

A service engineering company offering a bespoke service to the chemical,pharmaceutical, effluent and waste water treatment, aggregate, food and oil industries, including sales of new and refurbished centrifuges, filter presses, Nutsche filters and v...

Asking Price: Offers Invited
Turnover: £410,000

FREEHOLD


Mechanical Maintenance & Fabrication Company
UK Wide

Established business. This business has traded successfully for some 40 years. During which time it has carved out a niche market for on-site working with a highly praised workshop back up. Throughout this trading period the company has acquired a go...

Asking Price: £1,000,000
Turnover: £1,911,539

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
Jan
 

Sample book and shade card manufacturer acquired from administration | BUSINESS SALE

The business and assets of Yorkshire-based display products ...

 
16
 
Jan
 

Northgate and Redde shareholders approve merger | MERGER

The proposed merger of listed companies Northgate and Redde ...

 
15
 
Jan
 

SSE sells retail business to OVO Energy | DIVISION SALE

Power utility SSE has announced it has completed the sale of...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
14
 
Jan
 

Beales in sales talks to avoid administration | ADMINISTRATION

Department store chain Beales is in talks with two potential...

 
09
 
Dec
 

Scunthorpe construction group call in administrators | ADMINISTRATION

Scunthorpe-based Clugston Group and Clugston Construction ha...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources