Fri, 16 Apr 2010 | ADMINISTRATION
Steel contractor, Bone Group Ltd, has fallen into receivership and Blair Nimmo and Gary Fraser of KPMG have been named joint receivers.
The Lanarkshire firm has been forced to make 113 redundancies after suffering from a fall in the demand for its services from the struggling construction industry.
Nimmo and Fraser stated that the firm experienced a 50 per cent drop in trade, which left it with serious cashflow pressures. As a result, all staff working at its London and Leeds offices have lost their jobs.
The KPMG receivers are now seeking offers for the company. They coupled the invite with the following statement: “The Bone Group Ltd has a very strong reputation in the market, and has a history dating back more than 70 years.” They continued, "Only ten years ago the company moved to a purpose-built fabrication facility but unfortunately, due to the economic climate, experienced significant trading losses and cashflow pressures."
The firm had announced £8 million of new business at the beginning of this year and has held several high-profile contracts including for the construction of large football stadiums. It is likely to make an attractive prospect for a buyer.
Explore the chance to acquire a thriving recruitment agency located in South England, offering a robust client base and growth potential.
Exceptionally busy MOT testing station and vehicle repairs/servicing business which has been in the same hands for over 30 years and proved particularly profitable for the vendor.
A unique opportunity to acquire a reputable Yorkshire-based haulage business with a strong regional presence and significant growth potential.
|
05
|
|
May
|
Full-service practice acquires local construction law specialist | BUSINESS SALE
Reeves James, a specialist construction law practice, has be...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
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.