Wed, 08 Aug 2012 | ADMINISTRATION
Wall and ceiling product seller Consortias Ltd has been bought out of administration by Guardian Building Products.
Consortias, based in Burton upon Trent and established in 2002, sells wall, ceiling and flooring related items including waterproof laminate flooring, wall and ceiling panels and decorative mouldings.
Consortias Ltd was adversely affected by changes to the exchange rate between sterling and the euro, which led to a cost price increase of 22 per cent from its Belgium-based manufacturers. It was unable to get back on its feet after a steep drop in sales in October 2011 and called in the administrators.
Dean Nelson was drafted in from accountancy firm Smith Cooper, and soon sought out potential buyers. Guardian Building Products Ltd has since completed its purchase of the troubled firm.
Mr Nelson commented on the deal, “Due to the current difficult economic climate and competition faced in the market, coupled with a volatile exchange rate, it was really pleasing to be able to secure the sale of the business and assets of a local company which has resulted in saving six jobs.”
Consortias had also reported year-on-year losses for the past few years and had been under pressure by HMRC to pay overdue bills.
The company offers a complete range of products, including ambient foods (40%), frozen foods (25%), chilled foods (20%), general confectionery (10%) and disposables (5%). The company is also a registered carrier of controlled waste and offers a remov...
Strategically headquartered in the UK, our vendor is a globally positioned manufacturing and supply chain organization boasting a cutting-edge operational and manufacturing hub situated in China. This facility stands as a testament to innovation, fea...
Commands a stellar reputation for premium craftsmanship, rapid turnaround times, expertise in diverse vehicle bodywork recovery and repairs. Additionally, our client’s expansive service repertoire encompasses specialized Caravan & Motorhome repairs,...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
02
|
May
|
Vehicle recovery firm rescued with pre-pack sale | BUSINESS SALE
A vehicle recovery and maintenance business has been acquire...
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.