Wed, 17 Jul 2019 | ADMINISTRATION
A caravan manufacturing business in Preston is on the lookout for a buyer to take on the business and its assets after falling into administration on 16 July 2019.
Lunar Caravans was forced to call in professional restructuring specialists FRP Advisory LLP to handle the administration process, with partners David Acland and Lila Thomas appointed as joint administrators.
The company operates from its facility in Lostock Hall with 196 employees and provides designing and manufacturing services for its lightweight touring products.
However, the administrators noted that the business faced severe cashflow difficulties as a result of challenging trading conditions.
The production of all its caravan models, including the 2020 range, have been suspended upon entering the administration period.
Acland commented: “Lunar Caravans is a renowned manufacturer of lightweight touring caravans and over the past 50 years has established a reputation for innovative designs and cost-effective models that have become hugely sought after among UK holidaymakers, enjoying an enviable market position and strong brand.
“The UK staycation market remains strong and our focus is now on seeking a buyer for the business and its assets. We would encourage any interested parties to contact the joint administrators as soon as possible.”
Prior to administration, Lunar Caravans was a recipient of numerous awards, and in March 2017 reported record sales of £9.5 million at Birmingham NEC’s Caravan, Camping and Motorhome Show.
The administrators are presently working closely with management and Lunar Caravans’ employees to secure the sale of the business and of its assets.
For more news stories about administrations click here. For all our administrations listings, click here.
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