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.
View the latest distressed UK businesses here.
The company provides planned and preventative maintenance (PPM) services for infrastructure controlled by Network Rail, including the internal and external refurbishment of railway properties, as well as repairs to timber structures and annual inspec...
FREEHOLD
The company is focused on the provision of bulk farm produce transportation services, utilising its extensive in-house knowledge of the sector to provide clients with dependable and efficient haulage solutions.
LEASEHOLD
A loyal client base with sound fundamental financials, this is a business that would operate well in situ or as an adjunct to another existing company. The present lease expires at the start of 2024, so the new buyer could either extend or as easily...
LEASEHOLD
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.