Tue, 11 Mar 2014 | ADMINISTRATION
Former director Michael Price-Darby has rescued car service business K&G Bodyshop Ltd out of administration.
The business, which provided classic car restoration, accident repairs and custom paint work, had been hit by cash flow issues before entering administration.
Administrators Kelly Burton and Lisa Hogg from Wilson Field in Leeds were brought in to the business on 28 February and completed the sale on the same day. The deal has successfully preserved all 17 staff, from technicians to administration, at the Staffordshire-based operation.
Mr Price-Darby purchased the business and assets under MPD Trading for an undisclosed amount.
The K&G garage name was created in the 1960s in Cannock by Ken Elwell and George Tabernor, and was previously the main Peugeot dealer for the area.
Ms Burton commented on the proceedings: “We reviewed the situation, assessed the ongoing contracts held by the company, its viability and sold it as a going concern.
“Despite the economy still affecting many businesses, it is an excellent result when we can give a company a future and save jobs.”
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Related information:
Business Recovery and Insolvency Advice
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