Thu, 22 Mar 2018 | ADMINISTRATION
A Blackburn-based producer of aluminium products has entered administration after an exacting contract dragged down the company’s finances.
S.G. Aluminium, a firm that not only produces but also installs architectural aluminium windows, doors, curtain walling and shop fronts, is expected to make the majority of its 33-person workforce redundant as a result.
Its clients included some of the country’s biggest building contractors, including Carillion, Balfour Beatty Construction and Interserve. It also provided components for Manchester City’s new stadium, the Etihad Stadium, and Blackburn Rovers’ ground at Ewood Park in the form of curtain walling and aluminium doors.
Recent pressures on the company were prompted by falling sales and cash flow pressures arising from one particularly onerous contract which chipped away at the company’s reserves, meaning that it had little ability to meet its capital requirements to continue operating.
The firm’s directors have been considering various restructuring options since the beginning of the year, when such troubles became apparent.
They were unable to come up with a satisfactory solution, however, and called in Paul Flint and David Costley-Wood from KPMG’s restructuring practice to oversee its administration.
One of S.G. Aluminium’s staff will stay on for a short time in order to assist the administrators to package up the company.
Flint said that the company’s fate was sadly inevitable in the face of “mounting cash flow pressures”, and that administration was the only alternative left to S.G. Aluminium’s directors.
He added: “Our focus now will be on finding a buyer for the business and realising assets for the benefit of the company's creditors, together with providing support to those staff who have been made redundant."
This established business, founded in 2013, offers a unique opportunity to acquire a reputable provider known for delivering exceptional products and services.
An established business specialising in the creation of high-quality corrugated cardboard packaging since 1994 is now available for acquisition.
An established business in Greater Manchester is available for sale, offering bespoke kitchen and bedroom units tailored to any specifications.
30
|
Jun
|
Specialist electronics manufacturer to be acquired in £20m deal | BUSINESS SALE
Landguard Nexus Limited, a specialist electrical and electro...
30
|
Jun
|
Modella successfully price-chips WH Smith deal by at least 23 per cent | BUSINESS SALE
Back in March 2025, private investment form Modella Capital ...
30
|
Jun
|
IFA consolidator secures £14.5m facility for buy-and-build strategy | BUSINESS NEWS
Futura Financial Services Group, a consolidator of UK indepe...
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.