Buyer sought for remanufacturing firm’s business and assets
Wed, 03 May 2023 | ADMINISTRATION
Administrators are seeking a buyer for the business and assets of a firm specialising in the remanufacture of electrical components for commercial vehicles. Alliance Transport Technologies fell into administration this week after experiencing issues including delays to the launch of a new product.
Chris Pole and Ryan Grant of Interpath Advisory have been appointed as joint administrators to the company and will now explore sale options for the business and assets. During this process, the company’s operations will continue for a short period. The majority of the firm’s 51 employees have been retained to enable trading to continue, but 15 have been made redundant.
The company operated from sites in Clowne (Derbyshire) and Featherstone (West Yorkshire). It specialised in remanufacturing electronic components, providing aftermarket services for clients in the commercial vehicle, coach and bus markets.
The firm had encountered a series of challenges over recent months, most notably delays to its launch of a new ESS product. This took a significant impact on trading, leading to the business requiring additional investment. After exploring their options, the company’s directors opted to appoint administrators.
Joint administrator Chris Pole said: "Alliance Transport Technologies has been operating for 30 years, and in recent times, has pioneered the use of remanufacturing electronic components to allow commercial vehicle operators to decarbonise the maintenance of their fleets.”
"Our focus in the coming days will be to explore the potential sale of the business and its assets, and would invite any interested parties to contact us as soon as possible."
In Alliance’s most recent accounts at Companies House, for the year to December 30 2021, its fixed assets were valued at £660,146 and current assets at close to £4.1 million. The firm’s net assets at the time amounted to £912,021.
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