Buyer sought as North East contractor enters administration

Thu, 21 Nov 2019 | ADMINISTRATION



A buyer is being sought for Pro-Fix Installations after the company was placed into administration.

Linda Farish and Chris Ferguson, Joint Heads of Recovery and Insolvency at RMT Accountants and Business Advisors, have been appointed as administrators for the Team Valley-based contracting business.

Pro-Fix Installations is an accredited company and specialises in the installations of windows and doors for new build homes. It offers a wide range of products and installation services and serves areas across the North East of England, including Tyne & Wear, Northumberland, Durham and Teesside.

The company has several large housing developers among its clients and, for the time being, is continuing to trade as a going concern in administration. It has secured an order book of around £6 million for 2020.

RMT’s Linda Farish said: "Pro-Fix has a long and successful track record, and despite its current financial difficulties, has every chance of trading successfully once again in the future under new ownership.”

"We’ve already had initial contact with a number of potential interested parties and we are working to resolve the situation as quickly as we can."

"We’ve also been speaking to Pro-Fix’s customers about fulfilling future orders whilst the business is marketed for sale."

The company currently employs around 30 people and saw a turnover of £5.7 million in its last financial year. Its major clients include Bellway, Barratt Homes and Storey Homes.


Share this article



Latest Businesses for Sale

Construction, Plant Hire & Building Services
UK Wide

Established over 20 years and based in the South East. Provides a broad range of services, including grab, plant and van hire, construction services, plumbing and drainage, brickwork, carpentry, painting and decorating, groundworks, fabrication and a...

Asking Price: Offers Invited
Turnover: £3,000,000

LEASEHOLD


Roofing Contractors
Lancashire, UK Wide

Good accreditations and member of quality schemes. Situated in the busy town of Rochdale with good road links. Long established and highly reputed business. Great reputation with regular and repeat trade. Offers invited.

Asking Price: £709,950
Turnover: £521,843

FREEHOLD


Mining Company
Zetland, UK Wide

We produce high quality landscape rock and products for large scale municipal projects. Encompassed with a successful commoditization of the rock product to the retail sector . Business includes well established wholesale and retail accounts

Asking Price: £48,000,000
Turnover: £11,500,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
21
 
Jan
 

MBO at Newcastle market research company | MBO/MBI

Newcastle-based market research company Explain Market Resea...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources