Wed, 19 Sep 2018 | ADMINISTRATION
Specialist manufacturing company Viking Trailers have fallen into administration and are actively seeking interested parties to buy the business and the assets.
Established in 1972 and based in Bacup, Lancashire, very near Rossendale, Viking Trailers’ business model specialises in storage goods and materials handling equipment. Its primary focus is in the air cargo industry, but also caters to numerous blue-chip clients.
Viking Trailers cited financial difficulties and significant cashflow issues as a result for its downfall. In recent months, the company has faced a number of challenges in the form of lost or damaged orders from its most prominent customers which has consequently put a financial strain on the business.
Partners Anthony Collier and Ben Woolrych from FRP Advisory have been appointed as joint administrators, who are in the process of accessing their ability to continue trading operations as they place the business and its assets on the market for sale.
All 39 employees of Viking Trailers have been retained to date.
Collier commented: “Viking Trailers is a renowned manufacturer of high-quality handling and storage equipment, and it has built an international reputation for quality, safety and durability in movement and handling solutions.
"Significant delays to a number of key orders had caused severe cashflow difficulties and this ultimately led to the company entering administration. Our focus is now on seeking a buyer for the business and its assets, and we would encourage any interested parties to contact the joint administrators as soon as possible."
To find the administration listing for Viking Trailers, click here.
For all our administrations listings, click here. For more news stories about administrations click here.
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