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
An urgent sale is sought and offers are required by midday on Thursday 21st November 2019. Specialises in ground works, highways and landscaping. Current work in progress and significant pipeline.
Indicative offers are required by 17:00hrs on Monday 18 November 2019 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a general haul...
LEASEHOLD
Installs, services and maintains a wide variety of machinery within the recycling and waste management industry. Circa 150 active clients, approximately 40% of whom provide reliable and repeat business on an ongoing basis. Excellent industry reputati...
FREEHOLD
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
|
12
|
|
Nov
|
MBO at Gloucestershire bricklayers | MBO/MBI
Gloucestershire building services firm Cavendish Park Brickl...
|
07
|
|
Nov
|
Successful MBO at Homefair Blinds | MBO/MBI
Homefair Blinds has been acquired in an MBO led by a trio of...
Sign up to receive our acquisition alert emails to get your FREE guide
|
13
|
|
Nov
|
Brighton energy firm appoints administrators | ADMINISTRATION
Brighton-based utilities company Toto Energy has gone into a...
|
12
|
|
Nov
|
MBO at Gloucestershire bricklayers | MBO/MBI
Gloucestershire building services firm Cavendish Park Brickl...
|
07
|
|
Nov
|
Successful MBO at Homefair Blinds | MBO/MBI
Homefair Blinds has been acquired in an MBO led by a trio of...
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