Wed, 16 Jun 2010 | ADMINISTRATION
Cuts in public sector spending have taken their toll on a Nottinghamshire building business, which entered administration this week with the loss of up to 30 jobs.
Mansfield-based Baggaley & Jenkins (no connection to another Mansfield construction company with a similar name, Herbert Baggaley) has worked on many contracts for building and refurbishment work for councils, schools and health services. Its suffering due to the country's general economic state was compounded by the immediate effects of the new government's freeze on new spending initiatives.
Accountancy firm, RSM Tennon, has been appointed as administrator to the firm, which is headquartered at Hermitage Way.
The development comes just three years after a management buy-out in 2007 by managing director Stuart Caddy and co-directors and shareholders, Keith Marshall, and James Ward, that drastically changed the composition of the company.
At the time it had 200 employed tradesmen and office staff, with an annual turnover of £30 million. The buy-out, however, prompted the company to rely more on contract staff and sub-contractors, diminishing its employee numbers to just 33. It also saw its turnover fall to £10.5 million last year.
The company was established more than 30 years ago, by partners Les Jenkins and Ken Baggaley.
A pleasant and friendly village, just five miles west of Durham city, in the semi-rural Deerness Valley. Owned and operated by our client for the last 40 years and having only changed hands three times in the last 100 years, this general store is a o...
Excellent Opportunity to acquire a historic Grade II listed Coaching Inn in Cornhill adjacent to river Tweed.
FREEHOLD
An exciting opportunity exists to acquire a highly regarded leading independent corporate finance business which specialises in raising capital from sophisticated institutional investors and family wealth offices for its customers, Private Equity, Re...
20
|
May
|
Medical product manufacturer undergoes private equity-backed MBO | MBO/MBI
A medical product manufacturer with operations in Worcesters...
17
|
May
|
Focus Group continues acquisitive growth with telecoms deal | BUSINESS SALE
Business communications provider Focus Group has continued i...
17
|
May
|
Foresight-backed lab services group acquires sample storage specialist | BUSINESS SALE
Biofortuna, a laboratory services group backed by SME invest...
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.