Thu, 12 Sep 2024 | ADMINISTRATION
A company based in the North West that manufactures and exports food processing machinery around the world has fallen into administration. All six jobs at DanTech UK Limited have been lost as a result of the administration, with administrators from Begbies Traynor now undertaking a sale of the company’s assets.
The Burscough-based business was incorporated more than 20 years ago and its equipment is installed in factories around the world, including in Europe, Asia, the USA, South Africa, the Middle East and Australia. In addition to its base in Burscough, DanTech also operated a modern 15,000 sq ft factory and warehouse facility in Thetford, Norfolk.
According to its most recent accounts, the company had turnover of close to £1.4 million. However, despite this and the company’s global customer base, it had reportedly struggled due to challenging economic conditions both domestically and internationally.
As a result, the firm ceased trading prior to the appointment of Stephen Berry and Jason Greenhalgh from the Liverpool office of Begbies Traynor as joint administrators on August 27 2024.
Commenting on the company’s collapse, joint administrator and Begbies Traynor partner Stephen Berry said: “I can confirm that we have been appointed as Joint Administrators of DanTech UK Limited to protect the position of the creditors."
“The business has been hard hit by challenging economic conditions, not just here in the UK but in the multiple international markets in which it operates. A sale of its assets, primarily consisting of food processing machinery, is under way.”
In accounts for the year ending August 31 2023, DanTech UK Limited’s fixed assets were valued at approximately £66,000, with current assets standing at slightly over £700,000. At the time, the company’s total equity amounted to £184,261.
Read more about M&A trends in the UK manufacturing sector
Click here to download our free guide on finding and buying distressed businesses and assets
An opportunity has arisen to acquire a business specialising in the production of aggregates tailored for the construction sector.
This is a unique chance to acquire a prestigious, long-established precision machine design and manufacturing business that caters specifically to the diamond industry.
This business presents a prime opportunity to acquire a well-established manufacturer and retailer of high-quality furniture and household articles, strategically located in Wembley, London.
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.