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
Utilises a team of experienced drivers to provide tailored logistics solutions, with a focus on home delivery services, whilst also offering complementary warehouse solutions. Serves 20 active clients from a wide range of sectors, including retail, i...
LEASEHOLD
Established for over 50 years.Provides a range of automotive electrical services including air conditioning, heating, tachographs, security systems, vehicle tracking and reversing aids for vehicle, plant and marine industries. Over 100 active clients...
FREEHOLD
Provides freight forwarding for a range of sectors, as well as warehousing and an array of other complementary services. Serves over 20 clients, with an 80% retention rate.Strong second-tier management team in place. Generates revenue on an internati...
LEASEHOLD
|
11
|
|
Aug
|
PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE
PPL Corporation has announced that it has put its UK utility...
|
10
|
|
Aug
|
Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE
Samworth Brothers has completed the £6.4 million acqui...
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
Sign up to receive our acquisition alert emails to get your FREE guide
|
11
|
|
Aug
|
PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE
PPL Corporation has announced that it has put its UK utility...
|
10
|
|
Aug
|
Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE
Samworth Brothers has completed the £6.4 million acqui...
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
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