Tue, 23 Oct 2012 | BUSINESS SALE
A North East business is on the market after instructing its advisers Grant Thornton to look for a buyer.
Fishing tackle manufacturer Hardy and Greys is based in Alnwick near Newcastle-upon-Tyne and can trace its history back around 140 years. Unfortunately, its current owners are struggling to keep the company going and have decided to put the business up for sale in the hope that a new owner will be able to take it forward.
The Harris & Sheldon Group have owned the business for the last 45 years but things have started to go sour recently and the business recorded a loss of £446,000 in 2010 on a turnover of £12.84 million.
It made 20 of its 100 staff redundant in light of these losses but forecast that the firm would keep heading into the red over the course of 2012.
A spokesman for the firm explained that a buyer with more money for expansion and investment is needed to move things forward and return the business to growth.
He remarked to NE Business: “After redundancies were made earlier this year, the business has since turned itself around and managed to win greater market share. The future of the company’s looking extremely positive.
“However, the group needed to make big investments in the export market, namely Germany and America where trading is strongest, but it is not willing to make the necessary investments to take it to the next stage.”
He confirmed that until the Hardy and Greys is sold, it will be “business as usual at Alnwick and there will be no impact on jobs”.
The company provides a comprehensive service offering for refrigeration, air conditioning and industrial ventilation systems. Its service offering covers the installation of a range of major brands, along with ongoing maintenance and repairs, with 24...
The company is a specialist designer and manufacturer of bespoke electronic equipment for clients across the UK. Manufacture of the printed circuit boards is carried out in-house or by trusted third-party manufacturing partners, providing either prin...
Established in 1943, this is a contract packing and reworking specialist business that prioritises adaptability, offering flexible packing solutions to meet diverse customer needs while maintaining competitive efficiency and reliability. With a focus...
16
|
May
|
Administrators appointed at broadcasting equipment hire firm | ADMINISTRATION
A Crawley-based company that supplies broadcasting equipment...
15
|
May
|
Essex electric truck maker set to appoint administrators | ADMINISTRATION
An Essex-based company that produces electric trucks has fil...
15
|
May
|
Accountancy announces merger with Irish firm | MERGER
Audit, tax and business advisory firm MHA has announced a me...
22
|
Oct
|
Merseyside glazing firm falls into administration | ADMINISTRATION
Merseyside-headquartered door and window manufacturer Total ...
13
|
Oct
|
Recycling group acquired out of administration | BUSINESS SALE
The Doncaster-based Universal Recycling group of companies h...
09
|
Sep
|
Commercial vehicle firm acquired out of administration | BUSINESS SALE
Warrington-based Mercedes Van and Truck dealership Roanza Lt...
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.