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.
Develops and manufactures own-brand and white-label self-tanning, skincare, healthcare, and beauty products. Owns all of the formulations of its products. Has built relationships with many prestigious, blue-chip customers, who have built their brands...
LEASEHOLD
Designs and manufactures luxury, contemporary women's clothing. Benefits from a wide-ranging and diverse customer base. Well-developed e-commerce website consistently attracts new and repeat business. Strong second-tier management team in place.
LEASEHOLD
This is an opportunity to acquire a profitable and long established lighting manufacturer. The business manufactures and supplies a wide range of lighting solutions for leisure, industrial and agricultural applications. They also have a lucrative rec...
FREEHOLD
|
02
|
|
Dec
|
Kingswood continues acquisitive growth with £12.4m deal | BUSINESS SALE
Wealth management consolidator Kingswood Holdings Ltd has co...
|
01
|
|
Dec
|
Industrial products group acquired at up to 14x EBITDA | BUSINESS SALE
Industrial products firm Wixroyd Group has been acquired by ...
|
30
|
|
Nov
|
Chartered accountancy firm secures loan for acquisitive growth | BUSINESS NEWS
Chartered accountancy and business advisory firm Cottons Gro...
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