Wed, 05 Jun 2019 | ADMINISTRATION
A bathroom supplier has collapsed into administration after suffering a series of financial difficulties as a result of tough trading conditions.
Mayfair Brassware Limited, located in Sherburn in Elmet in the heart of North Yorkshire, was forced to call in administrators on 28 May 2019. Corporate restructuring specialists Begbies Traynor LLP have taken over the insolvency process, with partners Lee Lockwood and Julian Pitts appointed as joint administrators.
The wholesale supplier of a range of bathroom fittings, including taps and shower infrastructure, had been trading for more than 20 years and had six employees to its name.
However, in the last two years, an adverse exchange rate as a result of the Brexit referendum forced the business to suffer financially, unable to deflect a rise in costs onto its customers due to the competitive trading arena. In addition to this, Mayfair Brassware also endured bad debts and a decline in orders due to a general drop in construction activity.
The business endured a period of marketing to find a buyer but failed to secure a new owner in time. Thus, the business was no longer viable and placed in the hands of administrators.
In light of the administration, the company has been forced to cease its trading operations and hand over responsibility to Begbies Traynor LLP.
The administrators are presently working to realise the company’s assets – primarily stock and a freehold industrial unit located in Sherburn in Elmet – and are inviting potential buyers to express their interests immediately.
Click here to view the Mayfair Brassware Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
The business can be run from home and upon purchase no further investment is required, as the income stream starts immediately. This is a niche market sector, working predominantly within the education market sector nationwide. The company has very l...
Niche wholesale food distributor, based South Devon, predominantly operating throughout the South, Mid & East Devon areas, established and same owners last 30 years, retirement sale. Offers invited.
The company was formed over twenty years ago and is a well established brand in its operating sectors of Telecoms, Defence and Industrial Electronics. The company has two distinct activities: a value added distributor of power electronic products pri...
IRIS Software Group has finalised the agreement of intent to...
Engineering and services group NG Bailey’s strategic a...
Sign up to receive our acquisition alert emails to get your FREE guide
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