Thu, 13 Oct 2011 | ADMINISTRATION
Pi Shurlok, the Cambridgeshire-based manufacturer of vehicle electronics, has entered administration, after its parent company said it was not prepared to put any more money into it.
The company, which is headquartered at Milton Hall in Ely Road, Milton, has had Maurice Moses and Craig Lewis from Ernst & Young appointed as joint administrators, who have launched an intensive search for a buyer for the business.
Mr Moses said that the company had suffered in the economic climate to a point where its South African parent company, Control Instruments Group, could no longer support it.
"The company continues to trade as a going concern and the administrators are actively seeking to sell the business and its assets," he said. "The administrators are reassured by the high level of interest shown to date."
Twelve employees were made redundant when the administrators were brought in, but 67 further employees have been retained to maintain the business's operations while a buyer is sought.
The company was founded in 1986 as Pi Research, establishing itself as a specialist in wind tunnel research and motor racing technology. It was bought by Ford in 1999, then sold to private investors in 2004, who in turn sold it to Control Instruments in 2006 for £6 million.
Based in West Yorkshire, the company imports and distributes a range of automotive car parts, specialising in steering and suspension products, sold under the company’s own brand. Priding itself on its excellent products and customer service, the com...
A well-respected ecommerce business is now for sale. It has been growing since 2019 and the current owner is ready to sell to a suitable buyer. It is relocatable which provides a highly-desirable opportunity to a vast array of potential new owners.
A well-respected business since 2018, located in Grays is now for sale. It has been growing since 2018 and the current owner is ready to sell to a suitable buyer.
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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.