Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Cleveland Bridge assets to go to auction next month

Cleveland Bridge assets to go to auction next month

Thu, 07 Oct 2021 | COMMERCIAL PROPERTY



It has been confirmed that an auction of the property and assets of collapsed engineering firm Cleveland Bridge will take place next month. The firm’s most recently available accounts at Companies House, for the year ending December 30 2019, show £7.1 million in fixed assets and close to £13.7 million in current assets.

Cleveland Bridge fell into administration in July 2021 as a result of issues including severe disruption to several of its infrastructure projects across the world as a result of COVID-19. Administrators from FRP Advisory then announced last month that the Darlington-based firm’s property and assets would be prepared for sale after they failed to find a buyer for the company.

At the time of the company’s collapse, its creditors were owed close to £22 million. The online auction will be managed by the Leeds office of Sanderson Weatherall and will include plant and equipment, such as lifting machinery, containers and transport vehicles, along with other property and assets.

The auction will take place on November 9, with bidding closing the following morning.

Aside from the effects of COVID-19, FRP Advisory said that the business had been impacted by rising steel prices and an apparent error in estimation on an £11 million project. The project took up the majority of Cleveland Bridge’s production hours at its main facility in Darlington during the first quarter of the year and, as a result of the error, was being carried out at zero gross profit.

In addition, the firm’s Saudi Arabian parent company ARPIC declined to provide £12 million to plug a funding gap in the summer.


One of the best ways to find properties below market price is to look at recent administrations.

Read more about pressures impacting the UK construction sector.


Share this article



Latest Businesses for Sale

Firedoors Business
Kent, UK Wide

This is a retirement sale. Owner financed. Ideal for full refurbishment. Home based. Small business. Company for sale. Unique business. Attractive business. Established business. The website is the business being sold. Producing an income of £3000...

Asking Price: £50,000
Turnover: £300,000

Building Contractor
South East, UK

Offers a comprehensive range of building services for commercial and private clients throughout South East England. Has the capability to build high-quality houses and extensions, as well as undertake refurbishment and conversion works. Works with a...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD


Supplier and Installer of Windows, Doors and Conservatories
North West, UK

Supplies and installs UPVC windows and doors for domestic and commercial properties, also installing conservatories, orangeries, porches and sun lounges. Expansive product range suitable for all building styles and aesthetics. Uses high-quality mater...

Asking Price: Offers Invited
Turnover: £2,300,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

 
18
 
May
 

Cotswolds pub in prime tourist town comes to market for £1.3m | BUSINESS SALE

The Mousetrap Inn in the popular Cotswolds tourist town of B...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
10
 
Sep
 

Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION

Administrators for structural engineering firm Cleveland Bri...

 
08
 
Sep
 

Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION

Scottish wind turbine manufacturer CS Wind (UK) has fallen i...

 
23
 
Jul
 

Buyer sought as engineering firm Cleveland Bridge enters administration | ADMINISTRATION

Structural engineering firm Cleveland Bridge has fallen into...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.