Tool manufacturer Peak in administration again

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.


Share this article



Latest Businesses for Sale

Range of Boxed & Ex-Display Lighting & Accessories (Fast Sale)
UK Wide

Closing From 10am Monday 25 March 2019. Subscribe for more information and seller contact details.

Asking Price: Offers Invited
Turnover: £500k - £1m

Newsagents & Card Shop
Royton, Oldham, Manchester, UK Wide

Shopping precinct trading location. Spacious premises. Parking to rear. Mainly managed by staff. Offers invited.

Asking Price: £79,950
Turnover: £480,000

LEASEHOLD


Garage & MOT Station
Aughton, Sheffield, South Yorkshire, Yorkshire and the Humber, UK

Established Since 1990. Automated MOT Test Station completed with reliable and experienced staff. This is a retirement sale. Offers invited.

Asking Price: £359,950
Turnover: £358,198

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Mar
 

Buyer sought for Leeds pub group | ADMINISTRATION

Administrators for pub group headquartered in Leeds are on t...

 
17
 
Mar
 

Tavistock places two North East pubs for sale | BUSINESS SALE

The Lambton Worm and The New Plough pubs in County Durham ha...

 
16
 
Mar
 

Construction mogul Dawnus braces itself for administration | ADMINISTRATION

Dawnus Construction, the property development giant based in...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources