Tue, 27 Mar 2012 | BUSINESS SALE
The fate of a major car dealership is looking a lot brighter after administrators managed to secure a sale.
Eden (GM) Ltd in East Dorset has acquired the assets and two retail sites of Seward (Wessex) Ltd following a sale by the latter's administrators, Smith & Williamson.
The sale will see the businesses rebranded as Eden Branksome and Eden Christchurch with immediate effect and should also secure the jobs of 135 people. It is a positive turn of events for a firm that had run into significant financial difficulties.
Greg Palfrey, head of the restructuring and recovery services section of Smith & Williamson, claimed that the administrators had always been confident of a sale thanks to the fact that Seward is a “strong brand with many qualities and opportunities”.
Speaking to the Car Dealer Magazine, he added: “This deal, put together in a tight timeframe, means the jobs of more than 135 people are thankfully safeguarded.
“I wish to publicly thank the staff at Seward (Wessex) for their outstanding professionalism during what was, understandably, an anxious and uncertain time for their families and themselves.”
Founded in 1989, Seward had an estimated turnover of £42.5 million, down from its peak of around £100 million. The deal went through for an undisclosed seven-figure sum.
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...
17
|
May
|
Buyer sought as fashion brand Amanda Wakeley enters administration | ADMINISTRATION
A buyer is being sought for British fashion brand Amanda Wak...
19
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
13
|
Jun
|
Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION
GPC Sipp Limited, a firm specialising in providing technical...
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
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.