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

Pottery Items & Ceramic Decals Manuacturer
Midlands, UK Wide

Offers a range of kitchen, dining and gift pottery items, including fine bone china, fabrics and melamine products, for a mixture of commercial and private clients. Also facilitates the creation and supply of ceramic decals, including tableware, glas...

Asking Price: Offers Invited
Turnover: £2,900,000

FREEHOLD


Heating & Ventilation Equipment Manufacturer
North of England, UK Wide

Manufactures bespoke heating and ventilation equipment, serving clients throughout England and internationally. Products have been installed in a wide range of environments, including hospitals, schools and universities, petrochemical plants and leis...

Asking Price: Offers Invited
Turnover: £1,900,000

FREEHOLD


Electronic Solutions in Automatic Smoke Ventilation Systems Manufacture & Supply
UK Wide

Holds a number of patents for its unique product range, which has been specifically developed to comply with UK building regulations. Operates nationally, primarily working with electrical wholesalers, distributors and installers, as well as building...

Asking Price: Offers Invited
Turnover: £560,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

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