Thu, 01 Apr 2010 | ADMINISTRATION
Whilst, sadly, many companies are collapsing into liquidation and administration as they struggle with cash flow problems, many savvy business owners are poised on the sidelines ready to pick up bargains.
Saul Loggenberg is one of these new breed of entrepreneurs. Saul runs Bowden Investment Group in Altrincham and has added around £40 million of annual turnover to his expanding empire in a series of distressed business acquisitions.
When Wordsworth Holdings, a manufacturing conglomerate, collapsed in to administration in March, Saul picked up its truck manufacturing companies, a window supplier, a truck rental business and a job placement agency. Around the same time, Saul also bought a £1.2 million turnover macclesfield design company out of administration, lifting his total group turnover to £120 million with annual profits of £8.4 million.
For Saul, this is clearly a winning strategy and he plans to keep buying distressed businesses as he forecasts a further doubling of revenues over the next 12 months.
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