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.
Specialises in providing high-quality, comprehensive electrical installation and support services and has maintained an excellent reputation for its technical expertise and dedication to complete client satisfaction. Works with circa 300 clients pres...
LEASEHOLD
Provides a comprehensive range of services for operators of walking and moving floor trailers, including sales of new / used units and spare parts and repair work. Excellent relationships with a number of major trailer manufacturers, enabling lower p...
FREEHOLD
Supplies recycling equipment to its clients, with all waste collected on a schedule that suits the needs of individual organisations. UKSSA certified, providing the opportunity to introduce a secure shredding service. Caters to circa 60 commercial cl...
FREEHOLD
|
30
|
|
Nov
|
Chartered accountancy firm secures loan for acquisitive growth | BUSINESS NEWS
Chartered accountancy and business advisory firm Cottons Gro...
|
29
|
|
Nov
|
Water and environmental firm acquired at nearly 14x profits | BUSINESS SALE
Enisca, a multi-disciplinary engineering firm operating in t...
|
28
|
|
Nov
|
Optimo Care Group continues acquisitive expansion | BUSINESS SALE
Care provider Optimo Care Group has continued its expansion ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
27
|
|
May
|
Ralph & Russo’s future in doubt after deal collapses | ADMINISTRATION
The future of luxury fashion brand Ralph & Russo is in doubt...
|
03
|
|
Mar
|
Fazenda restaurant group acquired from administrators in pre-pack deal | BUSINESS SALE
The Yorkshire-based Fazenda restaurant chain has been acquir...
|
18
|
|
Jun
|
Hotel chain Suite Hospitality enters administration | ADMINISTRATION
Suite Hospitality, which operates hotels in Exeter, Windsor ...
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