Wed, 15 Apr 2020 | ADMINISTRATION
Bristol-based transport training course provider PB Transport Solutions has gone into liquidation, after succumbing to external factors including Brexit and coronavirus.
Accounting and advisory firm Mazars LLP has been appointed to act as liquidator for the company, which supplies transport training courses across the South West, including specialist HGV/LGV driver training.
Founded in 2011, PB Transport Solutions employed 11 staff and also operated a 35,000 square foot warehousing facility. It had been forecast to reach turnover of £1 million in the year to April 2019, before the difficult trading environment caused by Brexit uncertainty lead to a decline in demand for its warehousing facilities.
The company saw the loss of several key customers and then had to shut down its entire training operation last month, with the onset of the coronavirus lockdown.
With no alternative work and significant cash flow difficulties, the directors placed the business into liquidation, with trading ceasing and all employees made redundant. Tim Ball and Mike Field of Mazars have been appointed joint liquidators.
The company’s most recent accounts were made up to the year ending April 30 2019. At the time, PB Transport Solutions had fixed assets of £162,491, up from £153,772 the year before, and current assets of slightly over £130,000, down from £156,203 the year before.
Joint liquidator Tim Ball said: "External factors have impacted this business which has, in its most recent year, been profitable. Unfortunately, given a very significant drop off in trade, the company has run out of cash and the directors had to make the difficult decision to enter liquidation to prevent the position for creditors worsening."
View the latest UK liquidations here.
Extensively developed platform, generating a consistent stream of revenue from affiliate agreement commissions and contracted advertising packages. The company compares trading platforms operating in forex, stocks, crypto and commodities. Fully reloc...
RELOCATABLE
Specialist engineers providing a range of energy management services including the supply & maintenance of electricity billing meters energy reports & cost budgeting. Contracted to provide metering services on behalf of a major electricity distributi...
The business in run and managed by our client with the help of one full time office member of staff along with 3 full time engineers. Over the years the business expanded to include the supply and installation of pumps and pressurised systems, PH cor...
LEASEHOLD
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
|
06
|
|
Aug
|
Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION
One of the UK’s leading ski tour operators Harris Holi...
|
05
|
|
Aug
|
Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE
Pizza Express has announced that it is seeking a buyer for i...
Sign up to receive our acquisition alert emails to get your FREE guide
|
06
|
|
May
|
Cheshire-based wholesaler goes into administration | ADMINISTRATION
Cheshire-based wholesaler Scott Brothers Limited (SBL) has g...
|
24
|
|
Mar
|
Halifax arts trust calls in administrators | ADMINISTRATION
The Square Chapel Trust and its subsidiary Square Trading Lt...
|
21
|
|
Feb
|
Street food catering firm seeks buyer after entering administration | ADMINISTRATION
Shrewsbury-based catering company MPM Catering has entered a...
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