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

Airport Demand & Capacity Consultancy
South East, UK

The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...

Asking Price: Offers Invited
Turnover: £1,309,000

Commercial Laundry
Yorkshire and the Humber, UK

Well-Established Family Run Business, that has been in the same hands for over 20 years. The owners feel its time to step back and let others take it to the next level having facilitated that growth potential purposely over the last 3 years. Offers i...

Asking Price: £1,300,000
Turnover: £977,948

FREEHOLD


Tagging Services to Library Sector
UK Wide

If you are looking for an uncomplicated yet profitable business, this is it. Using RFID and BLE technology our client works across a number of sectors to electronically tag assets for ease of monitoring. Put simply, the business is one link in a chai...

Asking Price: £395,000
Turnover: £450,000

WORK FROM HOME



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into 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