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.
Provides a comprehensive traffic management service covering project management, surveys, planning, design, local authority liaison and the installation/removal of temporary traffic management systems. Carries out work in all areas, including multi-p...
LEASEHOLD
The owner has been trading since 2007 and based in leigh lancashire specialising in design, supply, and fitting of UPVC doors and windows for conservatories, orangeries, porches, canopies, fascias and soffits and supalite tiled roof systems. This wel...
RELOCATABLE
Specialises in the provision of 24-hour roadside recovery and assistance solutions for all types of vehicle. The company holds PAS 43 certification, enabling it to provide services for police, ambulance and council vehicles, and works with all major...
RELOCATABLE
16
|
May
|
Manx Financial Group to acquire Payment Assist in potential £9m deal | BUSINESS SALE
Manx Financial Group Plc has announced the acquisition of Pa...
13
|
May
|
Assets set to be sold as modular housing joint venture enters administration | ADMINISTRATION
The US House Group modular housing joint venture has fallen ...
12
|
May
|
Bathroom panel firm acquired for up to 9.1x EBITDA | BUSINESS SALE
Bathroom and kitchen products firm Norcros has agreed a deal...
Sign up to receive our acquisition alert emails to get your FREE guide
10
|
Aug
|
Wolverhampton contractor falls into administration and ceases trading | ADMINISTRATION
Wolverhampton-based contractor AM Griffiths has ceased tradi...
20
|
Aug
|
Cheshire wealth management firm ceases trading and enters administration | ADMINISTRATION
Sequence Financial Management has ceased trading and entered...
26
|
Mar
|
Leicestershire building products firm enters administration | ADMINISTRATION
Leicestershire-based System Building Products Limited has en...
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