Administrators seek buyer for historic lifting firm

Wed, 30 Nov 2016 | ADMINISTRATION

Administrators for a collapsed lifting equipment specialist say they are speaking to interested parties about a sale of the business.

Lloyds British Testing, which was founded in 1812, has seen a decline in revenues and faced cost pressures. 200 jobs are at risk as a result of the administration.

The business, headquartered in Sutton Coldfield in the West Midlands, provides engineering services including inspection, testing, operator training, design and manufacture and equipment sales.

Administrators PricewaterhouseCoopers (PwC) said it was hopeful it could secure a “successful outcome” for Lloyds British Testing, which has 12 sites across the UK and operates in 24 locations around the world.

PwC’s Michael Denny, David Baxendale and Matthew Hammond have been appointed as joint administrators.

Mr Baxendale said: "We are continuing to trade the business as normal whilst discussions take place with interested parties around a sale.

“We are working closely with the company employees, customers and suppliers as we seek to achieve a successful outcome for all stakeholders."

Find building and construction businesses in administration.


Share this article



Latest Businesses for Sale

Extensive Range of Catering Equipment, Furnishings & Wet Stock (Fast Sale)
UK Wide

Viewing: Wednesday 27 February 2019 between 10am and 3pm. Closing From 10am Friday 1 March 2019.

Asking Price: Offers Invited
Turnover: £500k - £1m

Tyre Services
Fakenham, Norfolk, UK Wide

Tyre specialist offering commercial and agricultural tyres. Major Tyres Ltd with Hankook performance tyres. Offers invited.

Asking Price: £299,950
Turnover: £380,000

LEASEHOLD


Tyre Garage
Midhurst, West Sussex, UK Wide

Busy vehicle tyre changing business, which is in a prime trading location in Midhurst, West Sussex. The business was established by our clients in 1984. Only now is the business being offered to the market, due to our clients’ desire for a well-deser...

Asking Price: £399,995
Turnover: £336,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
19
 
Feb
 

Pharmaceutical manufacturer enters administration | ADMINISTRATION

A pharmaceutical manufacturing company based in Bristol has ...

 
16
 
Feb
 

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
20
 
Feb
 

Electronics specialist Maplin searches for buyer | BUSINESS SALE

Electronics retailer Maplin is reportedly in crisis talks wi...

 
10
 
May
 

Rural supplies firm Countrywide puts all its shops up for sale | DIVISION SALE

Countrywide, the supplier of equestrian and farming supplies...

 
23
 
Mar
 

Shoe retailer Brantano in administration, sale sought | ADMINISTRATION

The shoe retailer Brantano has collapsed into administration...

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