Fri, 01 Mar 2024 | ADMINISTRATION
Interflex Limited, a manufacturer of automotive parts in Nottinghamshire, is set to fall into administration after filing a notice of intention (NOI) to appoint administrators. The NOI, filed through law firm Bermans, will protect the company from creditor action for 10 business days.
Interflex, which has its registered office in Essex but operates from a facility in Langar, Nottinghamshire, supplies a range of sealing solutions used in the automotive industry, including door and boot deals, interior trim and under carpet. The company also coats and cuts materials used in automotive manufacturing, including the fabric used in arm rests to improve durability and comfort.
Interflex underwent a management buyout (MBO) in 2021 led by Jim Griffin, former CEO of manufacturing firm Autins Group. The following year, the company expanded into an entirely different industry and product line with a move into the horticultural sector. The company's facility in Langar beginning to produce a range of biodegradable mulch mats for planting saplings and strawberries.
Despite diversifying its product range, however, the business appears in danger of falling into insolvency unless a solution can be found within the next couple of weeks. While few specific details on its troubles have been revealed, it has potentially been negatively affected by the wide range of headwinds impacting the UK manufacturing sector, such as soaring energy and raw materials costs, supply chain disruption and high inflation.
In its financial accounts for the year ending December 31 2022, Interflex Limited’s fixed assets were valued at slightly over £342,000 and current assets at more than £3.4 million. The company’s total debts at the time amounted to more than £3.1 million, however, with its net assets standing at £561,748.
Click here to download our free guide on finding and buying distressed businesses and assets
Find out how rising distress is contributing to manufacturing sector M&A
An opportunity exists to acquire a well-established UK based manufacturer of sterile barrier papers used for the packaging of both reuseable and single use medical devices. The company holds the leading market position in coating base papers and is i...
This is an exciting opportunity to acquire a thriving manufacturer renowned for its range of disinfectants and specialist biosecurity solutions across animal care and clean-room markets.
A leading specialist packaging company with a robust client base in the West Midlands is available for acquisition, presenting a unique opportunity for expansion in a thriving sector.
25
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
24
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
24
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.