Mon, 26 Jun 2017 | ADMINISTRATION
A commercial vehicle-recovery business based near Heathrow airport in the west of London has been rescued out of administration by an undisclosed buyer.
J&A Recovery Ltd, which has an annual turnover of around £600,000, went into administration on 9 June with the appointment of Sean Bucknall and Andrew Watling from corporate recovery specialist Quantuma. The company's directors initially hoped to go into company voluntary administration, but were unable to find enough support. The administrators were able to sell the business within 24 hours, safeguarding 4 jobs in the process.
One of the administrators, Bucknall, said "J&A Recovery had cashflow problems but was a fundamentally good business which was capable of being rescued".
Watling added: "A going concern sale was considered essential in order to maximise the potential disposal value of the business.
"This enabled a seamless transfer of the trade, assets and employees to a new company, J&A Rescue & Recovery Limited Ltd, within 24 hours of the appointment of administrators. This is a great result for all concerned."
Find a business for sale here
Subscribe to the Business Sale Report here
This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...
FREEHOLD
This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.
LEASEHOLD
This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.
LEASEHOLD
|
17
|
|
May
|
Greater Manchester staffing firm acquires security services company | BUSINESS SALE
A security services business headquartered in Newton-le-Will...
|
16
|
|
May
|
Midlothian IT company enters administration with assets up for sale | ADMINISTRATION
An Edinburgh-based IT firm has collapsed into administration...
|
15
|
|
May
|
Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfull...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
May
|
Greater Manchester staffing firm acquires security services company | BUSINESS SALE
A security services business headquartered in Newton-le-Will...
|
16
|
|
May
|
Midlothian IT company enters administration with assets up for sale | ADMINISTRATION
An Edinburgh-based IT firm has collapsed into administration...
|
15
|
|
May
|
Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfull...
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