Wed, 06 May 2020 | ADMINISTRATION
Cheshire-based wholesaler Scott Brothers Limited (SBL) has gone into administration after its business was significantly impacted by the coronavirus pandemic. Patrick Lannagan and Conrad Pearson of Mazars LLP were appointed as joint administrators.
The company supplies household storage products such as vacuum storage bags, air coolers and dehumidifiers. In November 2018, it acquired its main competitor in the storage product space H&L Russel Limited.
It represents numerous household brands, primarily in the UK and Ireland, including Packmate, Honeywell, Décor, DomoPak, Rorets, Wax On Wax Off, Wo-Wo, Storeasy and Stanley. Its customer base includes independent retailers and distributors, as well as several core high street retailers and supermarkets.
Joint administrator Patrick Lannagan said: "SBL's business has been significantly impacted by the Covid-19 pandemic and unfortunately it has been necessary to make 15 redundancies, from an original staff of 21.”
"Trading continues at present in a limited form and we are seeking buyers for the business and assets."
Scott Brothers’ last financial statements were filed to the year ending September 30 2018. At the time of filing, the company held fixed assets of £17,916, up from £10,000 in 2017, and current assets of £1.25 million, slightly down from £1.33 million the year prior. The company opted not to file its statement of income and retained earnings at that time.
View the latest distressed UK businesses here.
Sales, Repairs, Calibration, Installation. This well established and very reputable business was set up almost 30 years ago by the current vendor and in that time has grown into a highly professional and respected supplier of Industrial, Workshop and...
LEASEHOLD
The company stocks and supplies active, passive, Emec and hardware components. Regularly handles stock from over 200 worldwide manufacturers. Is ISO 9001 certified.
LEASEHOLD
The company specialises in the sourcing and supply of a wide range of high-quality agricultural parts and equipment, such as pistons, crankshafts and radiators.
LEASEHOLD
|
02
|
|
Aug
|
TGM Partners scoops up manufacturing firms in double acquisition | BUSINESS SALE
TGM Partners, a company specialising in the acquisition and ...
|
02
|
|
Aug
|
Victoria’s Secret UK placed into liquidation | ADMINISTRATION
It has been announced that lingerie retailer Victoria’...
|
30
|
|
Jul
|
UK insolvencies rise 31 per cent in Q2 | BUSINESS NEWS
According to figures from The Insolvency Service, company in...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
|
21
|
|
Feb
|
Street food catering firm seeks buyer after entering administration | ADMINISTRATION
Shrewsbury-based catering company MPM Catering has entered a...
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