Thu, 18 Oct 2012 | BUSINESS SALE
Beamlight Automotive appointed administrators on 11 October this year, but FRP Advisory has now decided to put up the business for sale.
Based in Nottingham, the company has roots going back to the 1930s and manufactures seating for the rail and automotive industries. It counted Ford Motor Company and Bombardier Transportation among its big name customers.
However, recently the firm has found itself with cashflow difficulties following a contract dispute with one of its customers. Nigel Hamilton-Smith, joint administrator, explained the situation to Insider Media: “We very much hope to find a solution to the current contractual dispute which will offer the prospect of reinstatement for the work force.
“We will also be seeking a purchaser for the company as soon as possible, and in doing so safeguard the future of the business and its employees.”
Around 200 employees have been suspended at the business, which is currently unable to continue to pay their wages. However, 59 workers have been kept on to provide ongoing supply to a number of the firm's other clients.
Beamlight Automotive recorded a pre-tax profit of £1.7 million on sales of £30 million in the year to 31 December 2011.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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.