Thu, 06 Jul 2023 | ADMINISTRATION
Administrators are seeking a sale of garage door and roller shutter manufacturer Birkdale Manufacturing Group as a going concern. Interpath Advisory’s Howard Smith and James Lumb were appointed as joint administrators to the Scunthorpe-based firm on June 30 2023.
The company, an established manufacturer of garage doors and roller shutters, has increased its product range over recent years to include window security shutters, patios, fence panels, front entrance doors, awnings and pergolas.
However, the company has experienced trading difficulties which have had an adverse impact on its cash flow. Over the past few weeks, one of the firm’s creditors had also issued a winding-up petition against the company.
The business ceased to trade prior to the appointment of administrators. However, no redundancies have been made as of yet, with administrators exploring interest from potential buyers and seeking to secure a sale of the company as a going concern.
Joint administrator and Interpath managing director James Lumb said that companies across the sector had suffered from headwinds including weakening demand, rising input costs and interest rates over recent months and that “these challenges proved insurmountable for Birkdale Manufacturing Group.”
Lumb added: "However, we are presently working towards a solution which could see the business rescued as a going concern. We will continue to update workers regularly while this process unfolds."
In Birkdale Manufacturing’s most recent accounts, covering the period from May 31 2022 to December 31 2022, its fixed assets were valued at £3.7 million and current assets at £705,424. The company owed £1.86 million to creditors within one year at the time, with its net assets amounting to £1.7 million.
Distress is one several factors driving increased M&A activity in the UK's manufacturing sector.
This is a superb opportunity to acquire a well-established bespoke furniture manufacturing company based in Telford, Shropshire. The business operates as a designer and manufacturer of bespoke furniture items, with the capability of producing items u...
Vendors process produce caught off British coastal waters which it then sells to a London-based packaging and distribution company. The quality of the crab meat and the processes behind its production are of such a quality that the factory has been a...
This is a superb established and profitable rotary and laser engraving company based in Leicestershire.
Property tech firm iamproperty has completed the acquisition...
Environmental Essentials, an asbestos service provider backe...
Essex-based construction contractor Readie Construction Limi...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.