Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Historic Hull electrical engineering firm enters administration

Historic Hull electrical engineering firm enters administration

Mon, 10 Jun 2019 | ADMINISTRATION



An electrical engineering company, founded by William Shuttleworth in 1908, has collapsed into administration after experiencing a string of financial difficulties.

Heeco, the Humber Electrical Engineering Company, was forced to call in insolvency specialists FRP Advisory LLP to handle the administration process, with partners Andrew Haslam, Tonya Allison and Phil Pearce appointed as joint administrators.

In a statement to the public, the administrators cited “severe financial pressures in recent months following the culmination of previous contracts and delays in the receipt and commencement of new contracts,” as the reason for the company’s collapse.

A “hole in production” was, therefore, the ultimate cause of “insurmountable cash flow issues”.

Heeco entered administration on 3 June 2019 and has since ceased its trading operations.

Located in the Sutton Fields Industrial Estate in Hull, Heeco was known for providing a range of electric services for both land and marine purposes. Specifically, it designed and manufactured motor control centres, LV switchboards and custom-built control panels for a number of large-scale projects.

One of its major clients included the Ministry of Defence.

Haslam further commented: “Every effort was made to save the company in recent weeks, however, with no prospect of a purchase, the only remaining option was to close the business.

“In the meantime, we would urge any parties interested in acquiring the assets to contact us as soon as possible.”

Click here to view the Humber Electrical Engineering Company listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Specialist Precision Engineering Provider
South East, UK

Specialises in CNC turning and milling, boasting 30 dedicated machines with various capabilities. Also provides an extensive selection of other precision engineering services, such as capstan turning, cylindrical grinding, cutting and design, milling...

Asking Price: Offers Invited
Turnover: £1,380,000

LEASEHOLD


Electrical & Mechanical Contractor
UK Wide

Works with a multitude of prestigious clients nationwide and retains a highly skilled, experienced workforce. Strong second-tier management team with the necessary skills and expertise required to manage day-to-day business operations.

Asking Price: Offers Invited
Turnover: £2,200,000

LEASEHOLD


Multi-disciplinary Engineering Consultancy Business
South East, UK

Has worked on a number of high-value projects for prestigious organisations in the rail industry.

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Feb
 

Hanson-owned brickwork contractor closes down | BUSINESS NEWS

Brickwork firm Irvine-Whitlock, a subsidiary of building mat...

 
25
 
Feb
 

Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS

Acquisitive wealth management firm Fairstone Financial Manag...

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
05
 
Mar
 

Independent bathroom retailer enters administration | ADMINISTRATION

Thought to be the UK’s largest independent bathroom re...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.