Tue, 11 Mar 2014 | ADMINISTRATION
Former director Michael Price-Darby has rescued car service business K&G Bodyshop Ltd out of administration.
The business, which provided classic car restoration, accident repairs and custom paint work, had been hit by cash flow issues before entering administration.
Administrators Kelly Burton and Lisa Hogg from Wilson Field in Leeds were brought in to the business on 28 February and completed the sale on the same day. The deal has successfully preserved all 17 staff, from technicians to administration, at the Staffordshire-based operation.
Mr Price-Darby purchased the business and assets under MPD Trading for an undisclosed amount.
The K&G garage name was created in the 1960s in Cannock by Ken Elwell and George Tabernor, and was previously the main Peugeot dealer for the area.
Ms Burton commented on the proceedings: “We reviewed the situation, assessed the ongoing contracts held by the company, its viability and sold it as a going concern.
“Despite the economy still affecting many businesses, it is an excellent result when we can give a company a future and save jobs.”
_____________________________________________________________________
Related information:
Business Recovery and Insolvency Advice
Presenting to the market a nursing care facility registered for 44 residents offering 32 ensuite room and additional outdoors.
FREEHOLD
This is a very well-presented detached care living facility located in Lancashire offered for sale on a freehold basis.
FREEHOLD
Presenting to the market a group of two care homes based in the South West offering elderly and Dementia care.
FREEHOLD
24
|
Apr
|
Kitchen firm expands construction sector offering with new acquisition | BUSINESS SALE
Nolte Kitchens UK has completed the acquisition of contracts...
23
|
Apr
|
Furniture retail group acquires stock and IP of e-commerce firm | BUSINESS SALE
Flair Furniture, a retail group based in West Yorkshire, has...
23
|
Apr
|
UK administrations update: April 17 – 23 | ADMINISTRATION
Since our last update, the following businesses have been co...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.