Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / M&E specialist goes into administration

M&E specialist goes into administration

Wed, 03 Jan 2018 | ADMINISTRATION

MVS Group, the mechanical and engineering specialist, have appointed administrators just seven months after the company tried to expand into the North West by opening a Manchester office.

The West Midlands-headquartered business saw its mechanical services arm go into administration on December 15th last year and, this year, the parent group has followed suit when Duff and Phelps were appointed as administrators on 21 December.

According to their most recent accounts, the company suffered from a delayed start to three major contracts which ended up costing them around £3.5m in lost profits and sales.

Overall, the company reported a turnover of £16m and a pre-tax profit of £824,000 for the year. It also owed its creditors £1.7m, and reported cash at bank and in hand of £190,000.

MVS Group also reported an order book of £26.6m for its 2017/18 financial year, and expected its turnover to rise above £25m. The business also said they hoped to be able to complete "at least one" acquisition over the next financial year, but unfortunately these optimistic hopes never came into fruition.

The majority of the group’s 38 staff have been made redundant following the group’s collapse.


Share this article



Latest Businesses for Sale

Civil Engineering & Environmental Consultancy
UK Wide

This business provides a full range of consultancy services to the construction and utility sectors. Civil Engineering & Environmental Consultancy in the Water Industry.

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD


Steel Fabrication Company
North East, UK

Specialises in the fabrication of kerbing, bespoke drainage channels and conveyor systems for the food industry. Also fabricates steelwork for construction projects, including handrails, balustrades and access steps.

Asking Price: Offers Invited
Turnover: £1,200,000

LEASEHOLD


Mechanical & Electrical Service Contractor
UK Wide, Yorkshire and the Humber

Established over 30 years ago. Provides an extensive selection of mechanical and electrical works including testing, mains distribution, completion certificates and installation of building management systems. Operates nationally, working with client...

Asking Price: Offers Invited
Turnover: £6,300,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Apr
 

Peer-to-peer lending business enters administration | DIVISION SALE

Business Loan Network, a peer-to-peer lending business, has ...

 
19
 
Apr
 

Historic Burtonwood brewery put up for sale | COMMERCIAL PROPERTY

Molson Coors' Burtonwood Brewery has been put up for sa...

 
16
 
Apr
 

Owner of Cabot Circus shopping centre in sale talks | BUSINESS SALE

The owner of Cabot Circus shopping centre in Bristol has con...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
19
 
Apr
 

Historic Burtonwood brewery put up for sale | COMMERCIAL PROPERTY

Molson Coors' Burtonwood Brewery has been put up for sa...

 
19
 
Apr
 

Peer-to-peer lending business enters administration | DIVISION SALE

Business Loan Network, a peer-to-peer lending business, has ...

 
16
 
Apr
 

Adam & Co division acquired at 5x multiple | BUSINESS SALE

Canaccord Genuity Wealth Management has acquired the private...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.