Fri, 09 Sep 2016 | ADMINISTRATION
A heritage building business that has been trading since 1747 has gone into administration.
Family-owned William Anelay Ltd of York called in the administrators after failing to secure a new deal with its creditors.
Julian Pitts and Bob Maxwell of Begbies Traynor have been appointed as joint administrators of the company, which specialised in restoring heritage buildings and undertook high profile projects at places including Lambeth Palace and Lancaster Castle.
William Anelay had tried to set up a company voluntary arrangement with its creditors to help ease its cash flow difficulties. However, when this proved unviable, it called in the administrators.
The company has now stopped trading and all 126 staff have been made redundant. William Anelay’s associated businesses Lowery Roofing, Hare and Ransome Joinery, Anelay Traditional Masonry and Anelay Building and Conservation are not affected by the administration.
Joint administrator Mr Pitt told the York Press: “Unfortunately, William Anelay ran into cash flow difficulties following a period of expansion and problems with some complex projects. Despite attempts to secure a CVA, this did not prove viable and there was no alternative but to place the business into administration.
“We will be working closely with the management to realise returns for creditors and will keep the employees fully informed as the situation becomes clearer.
"We are now in discussions with various interested parties and are hopeful that it may prove possible to novate some of the company’s contracts to ensure that work can be completed with the minimum of disruption to clients.”
If you are looking to buy a business out of administration, you can find out more here Businesses in administration
Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...
LEASEHOLD
Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.
FREEHOLD
Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.
LEASEHOLD
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
Sign up to receive our acquisition alert emails to get your FREE guide
|
18
|
|
Dec
|
High street clothing chain enters administration | ADMINISTRATION
A prominent high street clothing chain has collapsed into ad...
|
10
|
|
Oct
|
Bar firm enters administration | ADMINISTRATION
Bar firm Burning Night Group, the owner of a number of Bierk...
|
06
|
|
Aug
|
Administrators called in for credit union | ADMINISTRATION
Polish Credit Union UK Limited, which launched in 2013 and h...
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