Administrators called in for West Midlands contractor

Tue, 18 Jun 2019 | ADMINISTRATION



A contractor based in Aldridge, West Midlands has collapsed into administration due to cash flow pressures after failing to successfully refinance.

Shaylor Group, a family-run business that has worked on projects for companies like Ricoh Arena, Rolls-Royce, and Birmingham Airport, was forced to call in insolvency specialists FRP Advisory to handle the administration process, with partners Raj Mittal and Tony Barrell appointed as joint administrators.

In a statement to the public, the administrators said the Group “had experienced severe cash flow pressures in recent weeks following several project delays.

“After unsuccessful attempts to raise additional funding, the directors took the difficult decision to place the company into administration. The business ceased to trade on 14 June 2019.”

Established in 1968, and headquartered in Walsall with an office in London as well, Shaylor Group reported a turnover of £152.7 million in the year ending September 2018 – an increase from the £144.3 million in the 12 months prior. However, reports also revealed that pre-tax profits fell from £4.8 million to £2.4 million in the same period of time.

More recently, the Group has also supported development projects like the British Transport Police’s headquarters, the University of Warwick Business School, Paddington Station and easyHotel.

However, in light of the insolvency, the administrators are engaging with the company’s clients to discuss the transfer of sites, and how to support the employees through the administration period.

Mittal further added: “Despite the efforts of directors, the financial issues facing the company were not able to be resolved and resulted in the decision to place the business into administration.

“We will also be working closely with clients to ensure the smooth transfer of sites.”

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Plastering Business
West Midlands, UK

A superb opportunity has arisen for a new buyer to acquire a well-established Plastering business - plus the freehold on a building containing an office and recently refurbished apartment. The business has developed an enviable reputation throughout...

Asking Price: £420,000
Turnover: £320,000

FREEHOLD


Roofing Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

The business offers a comprehensive range of domestic and commercial roofing services including repair and maintenance work. This is a very profitable opportunity for buyer with experience in this industry. Family run business with great reputation a...

Asking Price: £495,000
Turnover: £450,000

LEASEHOLD


Construction Company
Huddersfield, West Yorkshire, Yorkshire and the Humber, UK

This is a brilliant opportunity to acquire a well-operated and highly regarded business which has gained a solid reputation for providing construction services since it began trading in 2009. Offers invited.

Asking Price: £700,000
Turnover: £1,851,511

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
21
 
Feb
 

Street food catering firm seeks buyer after entering administration | ADMINISTRATION

Shrewsbury-based catering company MPM Catering has entered a...

 
20
 
Feb
 

Heycar acquires HonestJohn.co.uk following administration | BUSINESS SALE

Online used car service Heycar has purchased the independent...

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
19
 
Feb
 

On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...

 
28
 
Nov
 

Peacocks to rescue Bonmarche | BUSINESS SALE

Peacocks has agreed a deal with administrators to rescue riv...

 
30
 
Oct
 

Building contractor Simons goes into administration | ADMINISTRATION

Lincoln-based building contractor Simons Group has announced...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources