Thu, 26 Apr 2012 | ADMINISTRATION
A sale has been secured for three Bradford-based food businesses, saving almost 100 jobs.
Pakeezah Superstores, Pakeezah Meats and Pakeezah (Girlington) appointed Gareth Rusling and Chris White from The P&A Partnership as joint administrator of the firms earlier this month.
However, the businesses were sold by the administrators almost immediately, with asset consultants Charterfields conducting the negotiations. Hotlinks Networks, a company set up by one of the previous directors, Tariq Haq, bought the business.
Mr White confirmed the purchase: “As a result of the deal all jobs at the two food stores and halal meat processors have been saved. The three businesses together had sales of more than £14 million last year but unfortunately got into financial difficulties because of significant cash flow problems.
“The administrators are writing to all creditors to inform them of the sale.”
Accounts from the company show that pre-tax profits for the year to 1 January 2011 dropped to £9,929 from £590,000 in the previous year, despite a 12 per cent rise in sales. One-off costs of launching additional divisions of the business were blamed for the drop in profits, along with bad debts.
CNC precision engineering company, established over 50 years ago. The Company specialises in small to medium batch high precision milling and turning and has the benefit of long lasting, valuable and important customer relationships. Based within the...
Flagship practice for any portfolio, benefitting from a combination setting (residential and commercial). The vendor is willing to stay on 4+ years.
This is a rare instruction for the sale of a lucrative four surgery private practice offered on a freehold basis.
FREEHOLD
10
|
May
|
North Yorkshire coaching inn on the market for £1.2m | COMMERCIAL PROPERTY
The General Tarleton Hotel and Restaurant, an 18th century c...
10
|
May
|
John Good Group acquires Grimsby shipping services company | BUSINESS SALE
John Good Group has acquired a shipping services provider th...
09
|
May
|
Landsec sells hotel portfolio for £400m | COMMERCIAL PROPERTY
Landsec has sold its entire hotel portfolio, comprising 21 a...
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.