Wed, 09 Dec 2020 | ADMINISTRATION
Shropshire-based garden machinery company Oakley’s has collapsed, with administrators exploring a potential sale of the business. The firm, which employs 22 staff at its site near Shrewsbury, has suffered from “deteriorating trading and cash flows” and the impact of COVID-19.
KPMG’s Chris Pole and Howard Smith have been appointed as joint administrators to the company.
Pole commented: “Oakley’s has been facing challenging market conditions for some time, which were further exacerbated by the coronavirus pandemic and, more recently, the increased restrictions across the UK.”
“Deteriorating trading and cash flows have ultimately led the directors to take the difficult decision to place the company into administration.”
“We are exploring a possible sale of the business as a going concern and in the meantime, are continuing to trade the business. I’d encourage any interested parties to contact the joint administrators as soon as possible to express their interest.”
Oakley’s, which traces its origins as a company back to the 1950s, distributes gardening machinery and equipment, groundcare products and specialist golfing equipment. No redundancies have as yet been announced.
In its most recent financial accounts, for the 15-month period ending June 30 2019, Oakley’s reported fixed assets of £120,472, with current assets valued at over £1.5 million and net assets of £981,622.
At the time, the company had around £630,000 owed to creditors within one year, along with around £47,000 due after more than one year. It was also owed £408,880 by debtors.
View the latest distressed UK businesses here.
Now on the market is a commercial-only business operating as a main contractor that provides commercial construction works, from shop fitting to local authority planned maintenance and construction. The business operates throughout the South East, Br...
The company specialises in the supply and installation of high-quality PVC, aluminium and wooden windows, doors and conservatories. Various styles, colours and finishes are available, enabling products to meet the wider property aesthetic and all cli...
The company provides a comprehensive range of internal and external cosmetic services for properties, including damage repairs, brick and stone tinting and cleaning, and mastic sealant services. Additionally, it offers specialist uPVC, wood, and alum...
09
|
May
|
Landsec sells hotel portfolio for £400m | COMMERCIAL PROPERTY
Landsec has sold its entire hotel portfolio, comprising 21 a...
09
|
May
|
Turner & Townsend acquires boutique consultancy | BUSINESS SALE
Leeds-headquartered professional services consultancy Turner...
09
|
May
|
Cheltenham hardware manufacturer undergoes MBO | MBO/MBI
A manufacturer of window and door hardware has been acquired...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
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.