Tue, 17 Aug 2021 | ADMINISTRATION
Lincolnshire trailer manufacturer Fruehauf Ltd has entered administration, with a buyer or investor now being sought for the firm. Fruehauf, which is headquartered in Grantham, produces a range of rigid and tipper trailers, as well as providing quality control systems.
The company was founded in 2010 and, in its most recent financial reports covering the year to September 30 2019, reported post-tax losses of £439,661 on turnover of £23.7 million. At the time, the company had £1.3 million in fixed assets and £8.2 million in current assets. After liabilities, the firm’s net assets stood at £1.9 million.
Quantuma’s Carl Jackson and Tauseef Rashid have been appointed as joint administrators to the firm, along with Brian Johnson of UHY Hacker Young. The administrators are exploring options including a potential sale of the firm or a company voluntary arrangement (CVA).
The company’s employees are currently on the government’s furlough scheme with no redundancies having yet been made and no sites forecast to close due to the administration. The company employs around 100 staff at a 64-acre site.
Joint administrator and Quantuma Chief Executive Carl Jackson said: “I can confirm we were appointed as joint administrators to Fruehauf Ltd earlier this month.
"We are now exploring opportunities to secure the long-term future of the business and deliver the best possible outcome for all staff and stakeholders. Options being considered at this stage include a potential sale or further investment from external parties.”
View the latest distressed UK businesses here.
The business designs and builds specific to customer requirements for end users predominantly in oil & gas, petrochemical, chemical and pharmaceutical industries. They also provides assistance in areas such as on-site commissioning, systems complianc...
We are seeking industrious parties interested in a purchase of the business and assets of a company specialising in custom, high end joinery fabrication for over 50 years.
Seeking interest in the business and or assets of a environmentally friendly green packaging company. The business comes with three Framework Agreements with council bodies that are due to be income producing in the near future.
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.