Wed, 18 May 2011 | ADMINISTRATION
Lincolnshire building materials supplier, C&G Concrete Limited, has been placed into administration by its directors after sales were hit during the winter months.
Sales fell during the harsh winter as laying down concrete is impossible to accomplish in severe weather conditions, the firm said.
Administrators from PricewaterhouseCoopers have come in to manage the affairs of the troubled business, which makes ready-mixed concrete, mortar and aggregates for the construction sector. Its workforce of 120, most of which man its factories, face losing their jobs.
Established for over 50 years, C&G runs three quarries and several plants across Lincolnshire, Humberside and Peterborough.
Potential buyers have already made their interest in the company known, according to joint administrator Eddie Williams.
“C&G is a well-known business within its local markets with a strong reputation for quality and service, which was making significant progress in terms of its performance,” Mr Williams said.
“There have already been a number of serious expressions of interest in the business and our main priority now will be to quickly progress these interested parties, plus other potential acquirers, to a completion of a sale of the business.”
Sales at the firm for the year ending December 31, 2009 were £11.97 million, a sharp decline from the £16.29 million reported the previous year.
Utilises a large fleet of articulated units and trailers to provide transportation and delivery services depot-to-depot via fully loaded trailers. Provides its comprehensive service offering for several blue-chip organisations. Receives a high volume...
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area.
Established over 15 years this care provider has become very well known in the local area for the high quality of care and companionship they provide to their clients.
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...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
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.