Wed, 27 Apr 2011 | ADMINISTRATION
The administrators of pioneering tank and silo manufacturer, Braby, are to sell the business after rescue talks broke down recently.
Talks with a large European group to secure funding for Braby failed last week. Braby’s directors were left with no option other than to call in administrators to the business, which had been experiencing worsening cash flow problems.
About 27 out of the 53-strong workforce lost their jobs at the firm after the administrators Nigel Morrison and Alistair Wardell of Grant Thornton were appointed.
Mr Morrison commented, “Despite being a long-established business and the UK market leader in its field, Braby was not immune to the global recession which has led to its blue-chip customer base reducing its spend on large capital items, such as those supplied by the company.”
The administrators will trade the business while seeking a new owner for the 172-year-old company.
Braby, based in Ashton Gate, Bristol, manufactures aluminium and stainless steel silos and tanks for food, plastics, pharmaceuticals and chemicals companies. On its website Braby says it is the only British silo maker that is capable of de-coiling aluminium and stainless steel supplied directly from the mills.
Braby Limited reported sales of £4.35 million for the year ending 31 March 2010 with losses of £324,000.
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
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.