Buyers sought for Royal Warrant-holder builder

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


Share this article



Latest Businesses for Sale

Major Innovator of Job Search Technology & Related Platforms
East of England, UK

One of the top job search portals - developed in-house - with over 1m UK-based vacancies available from employers operating in nearly all sectors across the UK. Also develops & operates a series of complementary platforms & mobile apps for use within...

Asking Price: Offers Invited
Turnover: £3,400,000

Supply of Flanges, Butt Welds & Machining
UK Wide

Manufacture and supply of high quality, hard metal, flanges and butt welds with machining services. Enviable reputation. Niche offering. Long standing relationships with suppliers. In-house manufacturing capabilities. Diverse client base including m...

Asking Price: Offers Invited
Turnover: £1,100,000

Road Surfacing & Civil Engineering Contractor
Scotland, UK

Public and private sector road surfacing and civil engineering contractor with a prestigious Royal Warrant for Road Maintenance. Provides roadworks, groundworks and civil engineering services. Diverse customer base including Royal Estates, local auth...

Asking Price: Offers Invited
Turnover: £3,800,000


View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

 
15
 
Jan
 

Hawk Plant enters administration | ADMINISTRATION

The Shropshire company, that has previously undertaken landm...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
10
 
Dec
 

Drug company Biotica enters administration | ADMINISTRATION

A drug discovery company based in Cambridge has entered admi...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources