Fri, 10 Feb 2012 | ADMINISTRATION
Bathroom manufacturer Badekabiner has been pushed into administration after suffering financial problems.
The Northumberland-based firm is now in the hands of administrators from PKF, who are seeking a buyer.
Badekabiner had an order book of over £8 million when it entered administration, and was aiming to achieve sales of £12 million this year. It failed due to the downturn in the construction sector and the demise of a customer who owed the firm almost £500,000.
The administrators are working through Badekabiner’s finances, which may owe over £1 million to its suppliers, HMRC and building firm Galliford Try, which owned a 25 per cent holding in the business before its collapse.
All 82 staff have been made redundant and the factory has been closed down, which in better times made concrete bathroom pods suitable for use in the build of large properties including hotels and student accommodation blocks.
Charles Escott, a partner at PKF, is confident about the prospects of a sale: “We have had quite a few companies in the construction industry come to us already who are interested in buying the company and we will be looking to make a sale to the right buyer soon.”
A lot of Badekabiner’s customers still want supply of the bathroom pods for their property developments, he added.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
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.