Wed, 18 Jul 2012 | ADMINISTRATION
B&B Steelworks has been pushed into administration after the firm failed to agree a deal with HM Revenue & Customs over unpaid tax.
The business, which is based in Leigh, has been placed under the control of administrators from Cowgill Holloway and plans are now in place to put the company on the market.
Administrator Jason Elliot told Insider Media that HMRC and the B&B Group each owed money to the other. However, no deal could be struck between the pair and B&B Steelworks was forced into administration as a result.
He added that Cowgill Holloway was brought in to offer advice to the board of directors regarding the issue. The administration was deemed to be the best way forward.
B&B Steelworks was founded in 2007 and works as a specialist steelworks frame builder. It runs separately from its parent company B&B Group and employs around 55 staff. At the moment nobody has lost their jobs as the administrators are working to sell the business and deliver novation of existing contracts.
Mr Elliott added that he had received one expression of interest but the specialised nature of the company's work is making it difficult to find a buyer.
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
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.