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.
This is an exciting opportunity to acquire a well-established window and door installation business in Cumbria with a solid local reputation and a knowledgeable, friendly team.
This opportunity centres around an established UK-based company with a diverse portfolio of heritage brands, catering to both specialist institutional customers and broader consumer markets.
This is a unique opportunity to invest in a well-established UK business poised for expansion into the $20bn US portrait photography market with its high margin, digital data subscription model.
Looking for more businesses? Try our off-market tool.
|
12
|
|
Sep
|
Historic Ruthin School on the market for £5m after administration | BUSINESS SALE
The Denbighshire estate of Ruthin School, one of the oldest ...
|
11
|
|
Sep
|
Asahi’s UK wholesale business acquired by C&C Group | DIVISION SALE
The UK wholesale business of beer brand Asahi has been acqui...
|
11
|
|
Sep
|
Devon country hotel up for sale for under £2m | COMMERCIAL PROPERTY
A country hotel in Devon dating back nearly a century has be...
|
12
|
|
Sep
|
Historic Ruthin School on the market for £5m after administration | BUSINESS SALE
The Denbighshire estate of Ruthin School, one of the oldest ...
|
11
|
|
Sep
|
Devon country hotel up for sale for under £2m | COMMERCIAL PROPERTY
A country hotel in Devon dating back nearly a century has be...
|
11
|
|
Sep
|
Asahi’s UK wholesale business acquired by C&C Group | DIVISION SALE
The UK wholesale business of beer brand Asahi has been acqui...
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.