Wed, 20 Dec 2017 | ADMINISTRATION
A company that provides a private ambulance service to customers in Ashford, Kent has been placed into administration after a difficult period of trading.
Meditech UK Ambulance Services, which carried non-emergency patients to and from hospitals in the area, reported that “cash flow problems” had caused problems for the day-to-day running of the company and left little recourse available to its owners.
Kelly Burton and Lisa Hogg, licenced insolvency practitioners at Wilson Field, were appointed as joint administrators to the firm at the end of November.
The Brunswick Road-based ambulance company has now ceased trading, immediately shedding four full-time employees and letting go more than 40 part-time casual roles, too.
Burton, who is also a director at Wilson Field, explained: “Difficult trading conditions had resulted in cash flow problems and as a consequence a number of ambulances had been repossessed.”
Meditech UK was established in 2010 by firefighters Paul Bleach and Nigel Patton, both of whom had worked for a London ambulance firm for some years before buying their first vehicle for non-emergency transportation.
It provided specialist patient services, including a unique bariatric transport capable of moving individuals weighing up to 90 stone and a line in handling medical repatriation from any other European country.
The company seemed to be facing prosperous times when in 2013 it moved to new headquarters at Southdown Enterprise Park after securing a funding package from Lloyds TSB Commercial Banking. Meditech secured six new vehicles, too, taking its total fleet to 18, and expanded to take on 30 full-time members of staff and 20 part-time firefighters.
Bleach and Patton then sold the company to Immaculata Ambulance Service, led by directors James Shepherd and Matthew Staples, in June 2017.
2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.
LEASEHOLD
Flooring Specialists: Domestic, Contract, Rentals, HMO, Housing Associations, Ecclesiastic, Schools and New Build. Well-Established. Highly reputable with multiple years of repeat business. Over 25 years of experience in the field. Domestic and Comme...
LEASEHOLD
Blue Chip Client Base. Full Range of Display Systems. Limited Industry Competitors. Solid Platform for Growth. Offers invited.
LEASEHOLD
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
|
11
|
|
Sep
|
Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION
A small energy supplier providing green energy to 29,000 hou...
Sign up to receive our acquisition alert emails to get your FREE guide
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
|
11
|
|
Sep
|
Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION
A small energy supplier providing green energy to 29,000 hou...
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