Fri, 08 Oct 2010 | ADMINISTRATION
Dorset-based precision engineering company, Park Manufacturing Ltd, has gone into administration, despite the company currently holding a busy roster of work.
Administrators from MCR were called to the company’s premises on Weymouth’s Granby Industrial Estate this week, fully intent on keeping the company trading as a going concern.
The action puts the company’s 87 jobs at risk, but no redundancies have yet been announced at the Surrey Close factory and MCR has launched a search for companies to potentially buy it out of administration.
Operations manager Ben Edwards said the financial situation was not currently affecting the workers’ productivity, declaring, “We’ve got work to do. We have just finished September and it’s been the busiest month since the new owners took over the company and everyone is busy at the moment.”
The company was established in 1986 as Park Engineering and swiftly expanded to become one of Dorset’s leading engineering firms. It carried out work for Granby-based DEK and the Ministry of Defence after investing in modern computerised engineering equipment.
The company was sold to Frontline Manufacturing Group by owners Dave Higson and Mick Archer for £4 million in April 2008, with new owners Peter Tarrant and Allan Edwards announcing plans to extend the business and build on the staff of 90.
Nigel Reed, president of Weymouth and Portland’s Chamber of Commerce, said, “The administrators must see the business as a viable concern and will keep it going to find a buyer, although there might be some job cuts.”
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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.