Interior fitting business enters administration

Sat, 02 Mar 2019 | ADMINISTRATION



An interior fit-out company based in the Midlands has fallen into administration after experiencing a stressful financial period.

Paragon Interiors Group Plc, established by Alan Hardy – also the owner of Notts County league two football club – has called in business recovery specialists Leonard Curtis to handle the administration process, with partner Keith Turpin appointed as one of the administrators.

In a statement released by Hardy, he said: “Further to recent reports I can confirm that administrators were appointed to Paragon Interiors Group Plc.

“The directors met with the administrators […] to discuss a range of scenarios including the proposed sale of the business.

“All parties including myself are now working very closely together with the administrators to achieve the best possible outcome for all parties and people affected by this situation.

“For now and the immediate future my attention will be on whatever I can do for the business, its employees and its creditors.”

The company has numerous clients to its name, including Adidas, O2 and Jaguar Land Rover, and reportedly had a turnover of £62 million in the 15 months leading up to 30 June 2017.

Its pre-tax profits, however, dropped to £131000 in comparison to £2.9 million from the previous financial year.

A statement from Leonard Curtis said: “The joint administrators are seeking offers for the business in order to preserve jobs and maximise the return to creditors. It is understood that the company employs in excess of 90 people.”

The business and administrators are actively inviting offers from all interested parties and buyers.

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


Share this article



Latest Businesses for Sale

MOT & Motor Repair Business
Shepherds Bush, London, UK

Long established, successful and profitable MOT, servicing and repair motor business in London. Ill health forces sale. Limited competition. Exceptional reputation. Parking available for 4/5 cars. Offers invited.

Asking Price: £900,000
Turnover: £300,000

MOT Services & Repairs
Berkshire, UK Wide

Established since 1986. Profitable commercial pumps, motors and valves. This is a relocatable business opportunity. Offers invited.

Asking Price: £649,950
Turnover: £521,406

RELOCATABLE


MOT & Servicing
Cheshire, UK Wide

Specialist MOT and servicing business in Chester. Excellent opportunity for an investor. Can be run under management. Offers invited.

Asking Price: £249,890
Turnover: £301,000


View more businesses for sale

News Search

Latest News

 
15
 
Jul
 

Specialist engineering firm forced to appoint administrators | ADMINISTRATION

Rail contracting company Aspin Group Limited has been forced...

 
12
 
Jul
 

Irish mobile diagnostics firm snapped up by Blancco Technology Group | BUSINESS SALE

Blancco Technology Group, which provides a range of mobile d...

 
11
 
Jul
 

ASL Group completes its third acquisition in 18 months with Reprotec | BUSINESS SALE

Just one week after securing fresh private equity backing, A...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
03
 
Jul
 

Assets for sale as London-based waste management company enters administration | ADMINISTRATION

A waste management, remediation and enabling works company p...

 
14
 
Mar
 

Hull furniture manufacturer enters administration | ADMINISTRATION

A high-end furniture manufacturing business based in Hull ha...

 
18
 
Apr
 

Brussels to block Three-O2 mega-merger | MERGER

Antitrust regulators in Brussels are in the process of block...

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