Wed, 09 Sep 2020 | BUSINESS SALE
Warrington-based Mercedes Van and Truck dealership Roanza Ltd has been acquired out of administration. Sarah O’Toole and Jason Bell of Grant Thornton’s Manchester office were appointed as administrator to Roanza Ltd and its subsidiary Premier Vehicle Rentals Ltd on September 8 2020 and have now overseen the sale of parts of the business to Estar Truck and Van Limited.
Roanza operated from eight sites, largely in the North West, each operating under franchise as full service Mercedes Van and Truck dealerships. Estar has secured the required franchises with Mercedes and will now operate across five of these sites: Trafford Park; Liverpool; Warrington; Deeside and Stoke-on-Trent. 340 jobs will be saved.
The sale did not include sites in Doncaster, East Manchester and one other Liverpool site, which will immediately cease trading, administrators said. 80 positions have been made redundant at these sites.
Premier Vehicles Rentals Ltd was also not included in the acquisition. The subsidiary operated as a separate van and truck leasing firm and had a fleet of over 900 vehicles. The company employed seven staff, some of whom have been retailed to assist with the realisation of assets for the benefit of creditors.
Joint administrator Sarah O’Toole said: “While it is always difficult when any elements of a business cease to trade and redundancies need to be made, we are delighted to have secured the sale of operations and the five larger sites and the continued employment of the majority of staff.”
In its reports to the year ended December 31 2018, Roanza reported turnover of £180 million, with gross profit of £20.6 million. Its net assets at the time were valued at £6.3 million. However, contraction in the commercial vehicle sector saw the company record losses in 2019, a situation that was then exacerbated by the impact of the COVID-19 lockdown.
Find businesses for sale here.
If you are looking for an exit, we can help!
The companies supply an array of gases to suit various applications, with the group’s offering comprising all types of argon, oxygen, acetylene, nitrogen, carbon dioxide, refrigerant gases, propane and butane.
LEASEHOLD
This Birmingham-based dealership presents an exciting opportunity to enter the premium used car market, with a strong niche in high-margin BMW, Audi, and Mercedes models.
LEASEHOLD
This business offers a unique opportunity to acquire two adjacent retail units in a high-footfall area within a busy Maidstone shopping mall, featuring a diverse range of products and services, including a Thornton’s franchise and greeting card and g...
LEASEHOLD
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.