Tue, 06 Apr 2010 | ADMINISTRATION
Your Space Ltd, the serviced office provider, has fallen into administration and 14 jobs have been lost as a result.
Deloitte’s Daniel Butters and Bill Dawson were appointed as administrators on 26 March. The firm’s shares, which were listed on the AIM, were cancelled on 16 March. The firm was also previously known as Your Space UK plc, Your Space (UK) Ltd and Work Space (North West) Ltd.
The business operated serviced offices in central Manchester and also undertook restoration and refurbishment for Grade 1 and 2 listed buildings in the region. The two administrators from Deloitte were first brought in last November to supervise after creditors approved an interlocking company voluntary arrangements.
Dawson stated, “on appointment we unfortunately had to make 14 people redundant. We continue to seek a buyer for the business.”â¨
He also explained where the firm’s problems arose: “during the creditors voluntary agreement (CVA), the group was unable to dispose of key real estate and subsequently has been unable to invest in its contracting business.”
He went on to explain that the payment plan laid out in the CVA was not met as a result of a failure to convert property into serviced apartments.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
|
25
|
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
|
24
|
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
|
24
|
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
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.