Wed, 11 Aug 2010 | ADMINISTRATION
Domestic lighting firm Associated Lighting Group has been placed into administration after a botched attempt to integrate with another business.
The group was formed when Leeds-based Ring purchased Salford-based Trident in September 2009.
At the time of the merger, new chief executive David Gutfreund, former chief executive chairman of Trident, spoke of his aims to acquire other smaller rivals with revenues of up to around £10m.
Charles King and Hunter Kelly of Ernest & Young have been brought in as the administrators.
Mr King explained the business’s situation: “Management has been working hard to integrate both businesses, but surplus stock, pressure from creditors and difficult market conditions earlier in the year have ultimately led to our appointment. We intend to continue to trade the business whilst seeking a buyer.”
Several employees have been made redundant - 33 out of 94 staff at Ring and 25 out of a total of 29 staff at Trident.
ALG supplies interior and exterior lighting, as well as light bulbs to many DIY, supermarket and high street shops. Customers include B&Q, Tesco, Argos and Homebase.
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.
|
15
|
|
Aug
|
North East compliance services firm secures investment and new acquisition | BUSINESS SALE
ABCA Systems, a North East-based fire, security and electric...
|
15
|
|
Aug
|
Furniture delivery firm that had ceased trading enters administration | ADMINISTRATION
A Yorkshire-based logistics business that specialised in fur...
|
15
|
|
Aug
|
North Yorkshire food supplier secures future with sale | BUSINESS SALE
The future of a North Yorkshire-based meat and vegetable sup...
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.