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.
Successful company operating for over 17 years. Provides a comprehensive range of golf equipment to satisfy all customer requirements, comprising clubs, clothing, bags, trolleys and complementary accessories. Significant scope to invest additional re...
LEASEHOLD
Specialises in the wholesale of high-quality electrical products and accessories for original equipment manufacturers and contractors located across Yorkshire.Product offering is enhanced by the company’s ability to offer expert consultancy advice fo...
LEASEHOLD
Supplier of pipeline products, construction materials and technical support packages. Offers a wide range of products and services, including pipes and fittings, valves, couplings and adapters, alongside training, equipment sales, servicing and repai...
LEASEHOLD
|
14
|
|
Aug
|
Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY
Manchester’s Trafford Centre shopping mall is up for s...
|
13
|
|
Aug
|
Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE
Administrators have put three hotels in the North of England...
|
12
|
|
Aug
|
Baird Group to close stores as CVA is approved | BUSINESS NEWS
Retailer and wholesaler Baird Group, the license holder for ...
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