Fri, 10 Feb 2012 | ADMINISTRATION
Bathroom manufacturer Badekabiner has been pushed into administration after suffering financial problems.
The Northumberland-based firm is now in the hands of administrators from PKF, who are seeking a buyer.
Badekabiner had an order book of over £8 million when it entered administration, and was aiming to achieve sales of £12 million this year. It failed due to the downturn in the construction sector and the demise of a customer who owed the firm almost £500,000.
The administrators are working through Badekabiner’s finances, which may owe over £1 million to its suppliers, HMRC and building firm Galliford Try, which owned a 25 per cent holding in the business before its collapse.
All 82 staff have been made redundant and the factory has been closed down, which in better times made concrete bathroom pods suitable for use in the build of large properties including hotels and student accommodation blocks.
Charles Escott, a partner at PKF, is confident about the prospects of a sale: “We have had quite a few companies in the construction industry come to us already who are interested in buying the company and we will be looking to make a sale to the right buyer soon.”
A lot of Badekabiner’s customers still want supply of the bathroom pods for their property developments, he added.
An exceptional opportunity has arisen to acquire a highly profitable and well-established off-licence and convenience store in a prominent location. With a strong retail trade and additional wholesale revenue, this business presents a lucrative inves...
FREEHOLD
The business specialises in providing a range of plastic and metal engineering solutions, including rapid prototyping, injection moulding, CNC machining, metal casting, and fabrication.
Presently seeking parties interested in the business and assets of a company that trades as a designer and installer of bespoke external rooms, including offices, and annexes.
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