Mon, 29 Nov 2010 | BUSINESS SALE
A holiday homes firm based in Hull has been placed into administration following severe cash-flow problems.
Administrators are currently considering a sale for Custom Leisure Homes Limited, which operates under the name Cosalt Leisure Homes, and manufactures hand-built residential and holiday homes at its Stockholm Road base.
Founded 30 years ago, the firm had an annual turnover of around £3 million. The administration, which has led to 43 job losses, comes after a management buyout which the firm underwent last year.
At the time of the MBO, the firm pledged to abandon its caravan building interests and focus on the holiday homes section of the market.
Andrew Mackenzie and Ken Pattullo of Begbies Traynor, the insolvency and recovery company, have been brought in as joint administrators.
Begbies Traynor's Andrew MacKenzie said, "It could be a viable business and has strong orders going forward, but unfortunately it has proved unable to restructure its operations quickly enough to overcome its immediate cash-flow problems.
"We are currently in discussions with some interested parties who recognise the value of the firm's reputation within the sector," he added.
Opportunity to acquire a well-established builders merchants located in South Wales, offering a robust reputation and a strong customer base.
An exciting opportunity has arisen to acquire a group of established cafes and bars situated in prime locations across three vibrant areas of Bristol.
LEASEHOLD
An exclusive chance to acquire a network of 17 well-established convenience and off-licence stores located in the North of England.
|
26
|
|
Jun
|
Building maintenance and repair firm targeting expansion after acquisition | DIVISION SALE
A North Yorkshire-based company that provides maintenance an...
|
26
|
|
Jun
|
Fairstone adds 100th firm to Downstream Buy-Out model | BUSINESS SALE
Wealth management firm Fairstone has added the 100th firm to...
|
26
|
|
Jun
|
Offers around £5m sought as luxury holiday lodges brought to market | COMMERCIAL PROPERTY
More than 30 luxury holiday lodges at Belton Woods Hotel, Sp...
|
26
|
|
Jun
|
Recruitment firm acquires Nottingham-headquartered group | BUSINESS SALE
Recruitment firm Affinity Workforce Solutions Limited has ex...
|
26
|
|
Jun
|
Offers around £5m sought as luxury holiday lodges brought to market | COMMERCIAL PROPERTY
More than 30 luxury holiday lodges at Belton Woods Hotel, Sp...
|
26
|
|
Jun
|
Fairstone adds 100th firm to Downstream Buy-Out model | BUSINESS SALE
Wealth management firm Fairstone has added the 100th firm to...
Business Sale Report is the complete resource for finding genuine 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.