Fri, 31 Aug 2018 | ADMINISTRATION
A chemical firm with 25 years of history, Grosvenor Chemicals has entered administration and is seeking a rescue deal. The firm has a reputation for reliability and flexibility with wide-ranging expertise and knowledge, making them the most chosen chemical toll manufacturing partner for many international companies.
Paul Zalkin and Andrew Andronikou have been appointed as administrators from Quantuma LLP. Negotiations are currently taking place with interested parties and administrators are optimistic of the future prospects for the chemicals manufacturer.
Part of the Whyte Group, the Huddersfield-based manufacturer has extensive experience synthesising, formulating and packing chemical products for a variety of industries including the agrochemical, pharmaceutical and household and industrial markets.
Zalkin and Andronikou handled the administration of fellow-Whyte Group company Whyte Chemicals Ltd earlier this year and restructured the credit facilities following negotiations which resulted in a severe restriction of working capital availability.
Joint administrator, Paul Zalkin said: “Much like the successful transaction we arranged to support Whyte Chemicals earlier in the year, we are optimistic that a rescue deal will be completed for Grosvenor Chemicals. We have identified several interested parties, and meaningful negotiations are at an advanced stage.”
Additional funding has been secured for the firm and it will continue to trade until a buyer can be found for both the business and the assets marketed for sale.
Quantuma LLP is a business advisory firm specialising in offering solutions for businesses in financial distress or have operational aspirations including corporate finance, administration, liquidation, accelerated acquisition and personal insolvency.
To see the administration listing for Grosvenor Chemicals click here.
For more news stories about administrations click here.
For all our administrations listings, click here.
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