Hull offsite specialist falls into administration

Fri, 22 Apr 2016 | ADMINISTRATION

An offsite building manufacturer based in Hull has fallen into administration, despite expanding the distressed business into new areas only last year.

Modular Space Limited, which specialised in designing and constructing modular buildings for use in a wide range of sectors, including modular offices, prefabricated accommodation and modular construction site facilities, has appointed Simon Smith of Kingsbridge Corporate Solutions as the administrator.

It’s main business concerned supplying the Costain/Skanska joint venture on Crossrail and Wates. However, the manufacturer also designed and delivered prefabricated buildings for the education and healthcare sectors, as well as a range of designs for hotels, dormitories and care homes.

Just last year, Modular Space tried to position itself in the private housebuilding market with a special two-storey design that could be assembled from four basic units in as little as five hours.

It’s most recent accounts showed an annual turnover of £12 million. Around 80 staff worked from its base in Hull — a 103,000 square foot factory. It is not known what will happen to the remaining workforce.

For more information, find out how to buy a business in administration.


Share this article



Latest Businesses for Sale

Courier Business
UK Wide

Long-established courier business, which has an excellent reputation for providing a bespoke and rapid response service to its loyal client base. Established 20 years+. Excellent reputation for speedy, flexible and efficient service, 365 days of the...

Asking Price: Offers Invited
Turnover: £600,000

LEASEHOLD


Manufacturer & Retailer of Textiles
UK Wide

This long established company is a second generation family business specialising in the design, manufacture, installation and retailing of blinds, fabrics and wallpapers. Offers invited.

Asking Price: Offers Invited
Turnover: £500,000

LEASEHOLD


Microsoft Independent Software Vendor Partner
Midlands, UK Wide

Microsoft 365 ISV & Services Partner – Healthcare and Public Sector. An opportunity has arisen to purchase an established Microsoft Independent Software Vendor Partner (ISV) providing Software, ‘SaaS’ and Services for Microsoft 365 Information Manage...

Asking Price: Offers Invited
Turnover: £1,200,000


View more businesses for sale

News Search

Latest News

 
06
 
Jul
 

Aviation claims specialist enters administration | ADMINISTRATION

Didsbury-based aviation claims specialist Flight Reclaim has...

 
03
 
Jul
 

Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY

High street fashion retailer Next Plc has confirmed the succ...

 
02
 
Jul
 

Benchmark Holdings secures sale of veterinary business | BUSINESS SALE

Sheffield-headquartered aquaculture health, nutrition and ge...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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