Mon, 25 Jan 2016 | ADMINISTRATION
Construction company CJ Pryor has been forced to put itself up for sale following a cashflow crisis.
The Harlow-based company has filed an intention to appoint administrators and FRP Advisory have been brought in to handle the distressed business while it looks for a new owner with the cash to see it through tough times.
FRP confirmed that the problems have been caused by a “severe short-fall in working capital”, adding that management have been forced to send home most of the workforce while exploring their options for a viable future for CJ Pryor.
The firm has been trading for nearly 70 years and has been involved in various major infrastructure projects and construction contractor jobs. It specialises in earth moving and civil engineering services, including road building and reservoir construction.
While most of the team have been sent home at the moment, FRP Advisory are anticipating maintaining a core team of 15 to 20 staff, unfortunately letting the remainder of its current 70 staff go.
FRP added: “The business is currently working with FRP Advisory, the business advisory firm, as it continues to liaise with customers, suppliers and staff and market the business for sale.
“Management would like to thank staff for their hard work and understanding during this period of transition.”
View the latest businesses in administration.
Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...
LEASEHOLD
The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.
FREEHOLD
Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...
FREEHOLD
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
|
21
|
|
Mar
|
Kent Logistics provider completes a successful acquisition | BUSINESS SALE
A Kent-based personalised logistics provider, backed by Livi...
|
20
|
|
Mar
|
Warrington construction company enters administration | ADMINISTRATION
A prominent construction business headquartered in Orford Gr...
Sign up to receive our acquisition alert emails to get your FREE guide
|
05
|
|
Mar
|
Independent bathroom retailer enters administration | ADMINISTRATION
Thought to be the UK’s largest independent bathroom re...
|
21
|
|
Feb
|
Lakeside hotel enters administration | ADMINISTRATION
A historic but well-preserved hotel located on the banks of ...
|
31
|
|
Jan
|
UK's largest manufacturer of ceramic tiles enters administration | ADMINISTRATION
Based in Newton Abbot in Devon, British Ceramic Tile Limited...
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