Specialist aviation company enters administration – assets and/or business up for sale

Tue, 21 May 2019 | ADMINISTRATION



A specialist ultralight trikes aviation manufacturing company has collapsed into administration after facing severe cash flow difficulties.

P&M Aviation Limited, headquartered in Marlborough, was forced to call in professional accountancy firm Milsted Langdon LLP to handle the administration process, with partner Tim Close appointed as the administrator of the company.

The aviation firm was forced to cease its trading operations, and placed the blame on Brexit for negatively impacting the consumption of luxury goods and services as well as its streams of revenue.

Despite these issues, the company has received numerous awards and world records over the years for design and construction, since its establishment over 25 years ago. It exported to more than 34 countries, and claims to be the “leading edge of technology, all of which offers the ultimate flying experience.”

P&M Aviation is now looking to sell its assets or the business as a whole as part of the administration.

Close, a chartered accountant and licensed insolvency practitioner at Milsted Langdon, said: “Unfortunately, due to a number of issues including cash flow difficulties and the effect of Brexit on consumer non-essential and luxury purchases, P&M Aviation Limited ceased trading on 7 May 2019.

“I was appointed as administrator on the same day. Due to the severity of the cash flow issues it was not possible to continue trading the business. However, I am now seeking a purchaser for the business and/or assets and have received numerous enquiries to date.

“Full details about the administration and the proposed sale will be provided in the administrator’s proposals in due course.”

Potential buyers are invited to express their interests immediately.

Click here to view the P&M Aviation Limited listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Timber-Associated Products Manufacture & Supply
North East, UK

Built up a strong reputation within its sector and has maintained several long-standing relationships with clients. Functions as a one-stop shop for all of its clients’ requirements, providing complete solutions. The current management team is capabl...

Asking Price: Offers Invited
Turnover: £2,200,000

FREEHOLD


Glass Rack Manufacturing & Installation for Vehicles
North West, UK

This small family run business was established in September 2004 Since the company was established, its customer database has grown extensively with customers throughout the UK returning time and time again. Areas of expertise are providing External...

Asking Price: £300,000
Turnover: £380,000

LEASEHOLD


Furniture Manufacturing Company
Surrey, South East, UK

Now available to the market is this brilliant furniture manufacturing company in the south of England. Trading since 1996, this family run business has been supplying high quality wardrobes complete with sliding or hinged doors, with the ability to m...

Asking Price: £599,995
Turnover: £935,135

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
12
 
Dec
 

Appello acquires Mevivo Careline | BUSINESS SALE

Living solutions provider Appello has acquired telecare and ...

 
11
 
Dec
 

PiggyBank owner enters administration | ADMINISTRATION

DJS Limited, the parent company of payday lender PiggyBank, ...

 
10
 
Dec
 

MBO at Derby rail sector recruiter | MBO/MBI

There has been a seven-figure management buyout (MBO) at Der...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources