Administrators called in for West Midlands contractor

Tue, 18 Jun 2019 | ADMINISTRATION



A contractor based in Aldridge, West Midlands has collapsed into administration due to cash flow pressures after failing to successfully refinance.

Shaylor Group, a family-run business that has worked on projects for companies like Ricoh Arena, Rolls-Royce, and Birmingham Airport, was forced to call in insolvency specialists FRP Advisory to handle the administration process, with partners Raj Mittal and Tony Barrell appointed as joint administrators.

In a statement to the public, the administrators said the Group “had experienced severe cash flow pressures in recent weeks following several project delays.

“After unsuccessful attempts to raise additional funding, the directors took the difficult decision to place the company into administration. The business ceased to trade on 14 June 2019.”

Established in 1968, and headquartered in Walsall with an office in London as well, Shaylor Group reported a turnover of £152.7 million in the year ending September 2018 – an increase from the £144.3 million in the 12 months prior. However, reports also revealed that pre-tax profits fell from £4.8 million to £2.4 million in the same period of time.

More recently, the Group has also supported development projects like the British Transport Police’s headquarters, the University of Warwick Business School, Paddington Station and easyHotel.

However, in light of the insolvency, the administrators are engaging with the company’s clients to discuss the transfer of sites, and how to support the employees through the administration period.

Mittal further added: “Despite the efforts of directors, the financial issues facing the company were not able to be resolved and resulted in the decision to place the business into administration.

“We will also be working closely with clients to ensure the smooth transfer of sites.”

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


Share this article



Latest Businesses for Sale

Specialist in Floor & Wall Finishes
Yorkshire and the Humber, UK

A specialist in floor and wall finishing capabilities, offering a range of services to its clients, including floor screeding, plastering,rendering and underfloor heating.Established for over 40 years and highly regarded within its community. Serves...

Asking Price: Offers Invited
Turnover: £1,500,000

LEASEHOLD


Timber Merchants & Fencing Contractors
Yorkshire and the Humber, UK

Outstanding business with serious profits for working owner or managing group. Full Account history available. Long established trading name and with outstanding reputation in the region for Quality of Service and Products. Business split between fen...

Asking Price: £525,000
Turnover: £760,000

FREEHOLD


Building Products & Window Manufacturer
West Yorkshire, Yorkshire and the Humber, UK

Established 30 years, this is a well organised manufacturer of Specialist Building Components predominantly for the school, hospital and commercial property market. Excellent fabrication facilities and fully equipped workshop the highest standard. Lo...

Asking Price: £175,000
Turnover: £582,000


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

 
28
 
Nov
 

Peacocks to rescue Bonmarche | BUSINESS SALE

Peacocks has agreed a deal with administrators to rescue riv...

 
30
 
Oct
 

Building contractor Simons goes into administration | ADMINISTRATION

Lincoln-based building contractor Simons Group has announced...

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

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