Tue, 09 Aug 2016 | BUSINESS SALE
An historic Royal Warrant-holder building firm WS Lusher & Son has entered administration.
There have been 24 job losses at the Norwich-based firm, after the staff were told that the increasing losses had become too burdensome for the company to carry on and continue. There had been failed attempts to gain much needed cash flow through selling its two-acre Sprowston site earlier this year. The plan had been to relocate, but a buyer was not found, Eastern Daily Press reported.
Managing director Mark Lusher, the grandson of founder William Lusher, said: “We have given it everything we've got to make it work, but we've been up against too many factors.”
Administrator Andrew McTear of McTear Williams & Wood is now working to secure a new buyer for the business. He said: “The problem was the company was loss-making and eventually that caught up with it. It ran out of cash. We are working with the Lushers' senior managers to finish off current contracts and market the business and assets for sale.”
The company's turnover was close to £3.8 million, and had 39 staff, including carpenters, bricklayers, joiners, plumbers, decorators and office staff, Mr McTear said.
Established in 1924 by William Lusher from his home in Sprowston, the business moved to its present home in School Lane in 1934. It achieved the Royal Warrant of Appointment for yearly work at Sandringham House in 1978, having built up a reputation for its restoration work on stately homes and churches.
Subscribers can contact the administrators here
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
The business and assets of Yorkshire-based display products ...
Sign up to receive our acquisition alert emails to get your FREE guide
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