Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Buyer sought for construction machinery supplier in administration

Buyer sought for construction machinery supplier in administration

Wed, 05 Jul 2017 | ADMINISTRATION

A buyer is being sought for a construction machinery supplier in administration.

Promac Solutions, which supplies new and used plant and machinery for construction, demolition, earth moving and agriculture from its base in Berkshire is now being marketed for sale by Mazars.

One of the joint administrators of Mazars, Tim Ball, says the company is continuing to trade while the sale process commences, and that none of the 36 staff have lost their positions.

The business has dealership agreements to supply products made by Doosan, Terex and Bobcat for Southern England. As well as supplying machinery, it also repairs and services the same kind of earth moving plant and equipment that it sells, as well as offering spare parts, and also has its own plant hire operation.

The most recent accounts for Promac, from 2015, show losses exceeding £900k on a turnover of £26.1m. It experienced a 9 per cent drop in sales during 2005, which Promac attributed to Doosan increasing its prices.
Long-term cashflow issues were cited by Mr Ball as a reason for the company’s present situation.

He said: “Unfortunately the company has struggled to overcome long-term cashflow problems caused by significant trading losses incurred in the past, which were then exacerbated by market uncertainties resulting from the Brexit vote in 2016.”

A turnaround plan was implemented, but it wasn’t going to improve things enough to bring the company out of its financial predicament quickly enough, he added.

Contact the administrators here
Subscribe to the Business Sale Report here


Share this article



Latest Businesses for Sale

Air Conditioning Systems And Specialist Motor Vehicle Services
North West, UK

Designs, supplies, installs and maintains air conditioning systems for commercial and domestic clients. Air conditioning systems are provided by leading manufacturers including Daikin, Mitsubishi, Toshiba, Fujitsu, Panasonic and Hitachi.

Asking Price: Offers Invited
Turnover: £734,672

LEASEHOLD


Specialist Joinery And Carpentry Services
South of England, UK Wide

The comprehensive service offering includes structural timber work, roofing, first- and second-fix carpentry and bespoke joinery. Benefits from a network of prestigious subcontractors.

Asking Price: Offers Invited
Turnover: £3,500,000

RELOCATABLE


Award-Winning Roofing Contractor
UK Wide, South East

Undertakes residential, commercial and industrial roofing projects, predominantly working with clients based across South East England. Services offered include, but are not limited to, slating and tiling, reinforced bituminous membranes, liquid coa...

Asking Price: Offers Invited
Turnover: £2,690,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Apr
 

Peer-to-peer lending business enters administration | DIVISION SALE

Business Loan Network, a peer-to-peer lending business, has ...

 
19
 
Apr
 

Historic Burtonwood brewery put up for sale | COMMERCIAL PROPERTY

Molson Coors' Burtonwood Brewery has been put up for sa...

 
16
 
Apr
 

Owner of Cabot Circus shopping centre in sale talks | BUSINESS SALE

The owner of Cabot Circus shopping centre in Bristol has con...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
06
 
May
 

Cheshire-based wholesaler goes into administration | ADMINISTRATION

Cheshire-based wholesaler Scott Brothers Limited (SBL) has g...

 
15
 
Apr
 

Bristol-based transport training company goes into liquidation | ADMINISTRATION

Bristol-based transport training course provider PB Transpor...

 
24
 
Mar
 

Halifax arts trust calls in administrators | ADMINISTRATION

The Square Chapel Trust and its subsidiary Square Trading Lt...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.