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.
Growing chartered accountancy practice, benefitting from expanding client base and located in North West England.
The business started as a one person band, with the current owner providing hand drawn caricatures at a well know London attraction. Identifying an opportunity to offer a consistent service across multiple sites, the business has grown organically to...
RELOCATABLE
A well established kitchen showroom in a premium South West London location is being marketed for sale. The business designs and installs quality high end kitchens, both of contemporary German designs and also more traditional English handmade kitche...
LEASEHOLD
|
10
|
|
Oct
|
Telecoms company acquired by services group | BUSINESS SALE
NES Services Group has acquired Suffolk-based telecoms compa...
|
10
|
|
Oct
|
Logistics group Green Fulfilment aims for sustainable leadership following acquisition | BUSINESS SALE
Glasgow-based third-party logistics firm Green Fulfilment ha...
|
10
|
|
Oct
|
Devon hospitality fit-out contractor in pre-pack acquisition | ADMINISTRATION
A hospitality fit-out specialist based in Devon has been acq...
|
10
|
|
Oct
|
Professional services firm completes 10th merger in three years | MERGER
Professional services group Streets has announced its latest...
|
10
|
|
Oct
|
Devon hospitality fit-out contractor in pre-pack acquisition | ADMINISTRATION
A hospitality fit-out specialist based in Devon has been acq...
|
10
|
|
Oct
|
Logistics group Green Fulfilment aims for sustainable leadership following acquisition | BUSINESS SALE
Glasgow-based third-party logistics firm Green Fulfilment ha...
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.