Mon, 15 Feb 2016 | BUSINESS SALE
Four months after being bought out of administration by its sister company, Chesterfield-based Peak Toolmakers Ltd finds itself in difficulty once more. The original deal, with Peak Toolmakers (Assets) Ltd, managed to save around 50 jobs, but that now looks to have had only a temporary effect.
The distressed business, which supplies machine tools for Jaguar Land Rover, Nissan and BMW, has now been put up for sale by insolvency specialists due to a lack of capital. Kelly Burton and Rob Dymond of Wilson Field were charged with handling the sale of the manufacturer, with 13 staff being retained to complete the current run of orders and all other staff being made redundant.
Kelly Burton told Insider Media Limited: “Peak Toolmakers had a number of orders but ran into difficulty due mainly to a lack of working capital.
"This situation has now resulted in us being appointed and, at this stage, regrettably having to make a number of staff redundant. The company is still trading but operating on a total of 13 staff to complete current orders.
“For any potential buyers, there are skilled staff available in the local vicinity and they would be buying a recognised name in the industry with a good reputation and an established customer base.”
Business recovery and insolvency specialists Wilson Field were originally asked to look at Peak Toolmakers back in September 2015, when a major customer reduced its orders significantly. Before that time, the business had remained in profit for a decade.
View the latest UK businesses in administration.
Extensively developed platform, generating a consistent stream of revenue from affiliate agreement commissions and contracted advertising packages. The company compares trading platforms operating in forex, stocks, crypto and commodities. Fully reloc...
RELOCATABLE
A great opportunity to take on a respectable electrical control panel manufacturer in Hampshire is now available to the market. High end technology. Registered ECA member. Commercial client base. Skilled team of staff. Excellent reputation. Offers in...
LEASEHOLD
Offers required by August 26th, 2020 - 6:00pm. Established in 1971, this North London based coach company operates a fleet of 14 executive/luxury coaches (7 of which are unencumbered) with seating for up to 70 passengers, and 1 wheelchair accessible...
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
|
06
|
|
Aug
|
Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION
One of the UK’s leading ski tour operators Harris Holi...
|
05
|
|
Aug
|
Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE
Pizza Express has announced that it is seeking a buyer for i...
Sign up to receive our acquisition alert emails to get your FREE guide
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