Lincs Lifts seeks buyer after appointing administrators

Mon, 27 Apr 2020 | ADMINISTRATION

Scunthorpe-based powered access hire business Lincs Lifts is seeking a buyer, after appointing administrators from Begbies Traynor.

The company specialises in the renting and leasing of powered access machinery such as telehandlers, scissor lifts, cherry pickers, boom lifts and towable lifts, among others.

Operating across the UK and Ireland, it is an International Powered Access Federation audited Rental + Gold trading company.

However, the company fell into administration after seeing business impacted by the coronavirus crisis. It has furloughed around a dozen of its staff as administrators seek a buyer for the business.

According to an insider, talks are underway with potential buyers and those involved are hopeful that a deal for the business can be agreed soon.

As per a filing on Companies House, Lincs Lifts’ registered office address changed on April 24 from its previous location on Scunthorpe’s South Park Industrial Estate to Begbies Traynor’s Leeds office in Toronto Square.

According to its most recent accounts, made up to the year ending December 31 2018, the company held fixed assets of around £1.8 million, a significant increase from £627,458 the year prior.

Its current assets at the time were close to £595,000, up from almost £95,000 in 2017, with net assets amounting to £83,107, up from just over £50,000 the year before.

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