Rescue of Sheet Metal Fabrication business via Administration

Sector: 
Manufacturing
Company Size: 

Turnover: £10m +
Employees: 88

Issue: 

The company lost its main customer following a contraction in its market caused by macro-economic factors.

Solution: 

The company was placed into Administration and traded for eight weeks whilst we agreed a sale of the business.

Outcome: 
  • The restructured business was sold as going-concern, saving a large number of jobs.
  • The secured creditor was repaid in full.
  • Unsecured creditors were repaid c. 50p in the pound.