Thu, 28 Jun 2018 | ADMINISTRATION
Escubed Limited, a research and development company based in North Yorkshire, stopped its operations and has appointed administrators following tough financial times.
The contract analytical laboratory in Wetherby operated across a number of industries to provide research and development services in powder and material technology.
Insolvency practitioners Armstrong Watson LLP have been called in, with partners Rob Adamson and Mark Ranson assigned as joint administrators. Pinder Asset Solutions have been appointed to assist with the sale and marketing of the company’s assets.
Rob Adamson, Escubed Limited’s lead administrator, said: “Immediately prior to our appointment, but in conjunction with ourselves, the directors made the difficult decision that the company should cease trading due to its inability to meet its ongoing financial obligations.
“It is too early to comment upon the likelihood of the return to creditors as this will depend upon the level of realisations achieved and the extent of the claims received.”
Escubed Limited was founded in 2008 as a spin-out company from the University of Leeds, acting as a particle characterisation analysis laboratory that also carries out research and development.
“We have engaged Pinder Asset Solutions to assist with the marketing and sale of the tangible assets however we have not ruled out a potential sale of the business in some form given its bespoke nature. Any expressions of interest should be directed to the joint administrators in the first instance,” said Adamson.
Offers a comprehensive range of solutions for mobile phones, GPS tracking and telematics, and two-way radio communication systems. Has established long, strong relationships with its suppliers, ensuring the longevity of the business. Offers invited.
LEASEHOLD
Established Fintech software development business. Over the past 15+ years, our client has built a reputable brand and profitable business specialising in the development of resilient and often complex financial sector applications. Specialising in P...
They are a leading manufacturer of Digital Portable Tachometers & associated devices in Europe. They specialise in the design and manufacture of high quality speed measurement products, and have been doing so for over 40 years. In addition, the compa...
LEASEHOLD
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
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