Tue, 26 Feb 2013 | ADMINISTRATION
Northampton-based Deane & Amos Group has entered administration after calling in insolvency experts Marshman Price to guide its financial situation.
The company had four divisions specialising in high-quality shopfitting, electrical installations, metal fabrication and aluminium windows and doors. These divisions worked across various different sectors, with clients in retail, education and construction, among others. However, all four sections of the business have now ceased trading and the 150 people employed at the head office and across the county have been made redundant.
Gary Pettit, of Marshman Price, who is working as a joint administrator for the business, commented: “It is always sad to see long-established businesses like Deane & Amos fall into difficulties, but there are some encouraging signs that at least some of the ex-employees will be offered their jobs back by any prospective new owners.”
Deane & Amos Group had a number of big name clients under its belt. The firm has done work for Superdry and Barclays retail outlets; Stansted, Luton and Heathrow airports; Tottenham Hale Retail Park and a number of schools around the country, among others.
But the business is thought to have been struggling to get over difficulties that have plagued it since the recession hit. Further problems in the eurozone have compounded the decline in turnover and profitability of some sectors of the business.
The administrators are now looking for potential purchasers for at least some of the group, although it is unclear whether or not all of the divisions will be bought up or not at the moment.
In the year to 31 March 2012, Deane & Amos Group reported a pre-tax profit of nearly £500,000 on sales of £26 million, according to the latest filed accounts for the business.
_________________________________________________________
Related articles:
How to profit from a distressed business
An exceptional opportunity has arisen to acquire a well-established lettings agency in Merseyside, offering a strong client base and significant growth potential.
Discover a charming village pub restaurant nestled in the picturesque landscapes of Oxfordshire, offering a unique opportunity to own an establishment rich in character and appeal.
LEASEHOLD
Renowned home office furniture manufacturing, supplying major office/furniture retailers throughout the UK, also retailing direct to the public.
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.