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
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.