Tue, 16 Apr 2024 | ADMINISTRATION
A stage engineering specialist based in West Yorkshire has fallen into administration and ceased trading, with administrators now set to market its assets for sale. Halifax-based Safe Stage Services Limited fell into administration on April 9, appointing Howard Smith and Rick Harrison of Interpath Advisory as joint administrators.
Safe Stage Services, which was founded in 2016 by Managing Director Richard Turner, provided steel manufacturing and installation services for stages in the studio and theatre industries. As well as supplying stage engineering and performance system products, the company also had its own in-house design and fabrication teams.
The company provided technical stage engineering support across all aspects of theatre and performance, with services including stage lift installation, hoists and drapes, rigging and trussing and variable acoustic systems.
Despite working on projects locally, around the UK and internationally, the business had suffered as a result of cashflow issues and, due to its financial position, was unable to continue trading.
On its website, the company listed recent stage engineering projects at a University in Nashville, Tennessee, the Liverpool Playhouse Theatre and the King’s Hall in Ilkey, as well as engineering work on the lift systems at Leicester’s De Montfort Hall theatre.
Upon the appointment of the joint administrators, the company’s two full-time employees were made redundant and the company ceased trading, with a process now underway to sell the assets of the business.
In the company’s accounts for the year to January 31 2023, its fixed assets were valued at just short of £189,000, while current assets were valued at slightly over £266,000. At the time, the business owed nearly £420,000 to creditors, with net assets amounting to £171,104.
Click here to download our free guide on finding and buying distressed businesses and assets
This is a unique opportunity to acquire a leading specialist in geotechnical and environmental site investigations, renowned for its expertise and strong client base among blue-chip companies and utilities.
Operating from a strategically located freehold site, this established engineering business specialises in providing civil and mechanical infrastructure services to the marine sector, boasting a long-standing client base.
This is a unique opportunity to acquire an established distributor of safety and security technology with extensive geographic coverage in the UK. The company boasts a highly experienced management team and a diverse product range, including innovati...
16
|
Sep
|
UK administrations update: September 9 - 15 | ADMINISTRATION
Since our last update, the following businesses have been co...
16
|
Sep
|
Nottingham pharmacy acquired by husband-and-wife team | COMMERCIAL PROPERTY
A pharmacy in Nottingham has been acquired by a husband-and-...
15
|
Sep
|
Mears Group acquires housing compliance firm in £9.5m deal | BUSINESS SALE
Pennington Choices Group Limited (PCL), a social housing com...
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.