Wed, 05 Jun 2019 | ADMINISTRATION
A bathroom supplier has collapsed into administration after suffering a series of financial difficulties as a result of tough trading conditions.
Mayfair Brassware Limited, located in Sherburn in Elmet in the heart of North Yorkshire, was forced to call in administrators on 28 May 2019. Corporate restructuring specialists Begbies Traynor LLP have taken over the insolvency process, with partners Lee Lockwood and Julian Pitts appointed as joint administrators.
The wholesale supplier of a range of bathroom fittings, including taps and shower infrastructure, had been trading for more than 20 years and had six employees to its name.
However, in the last two years, an adverse exchange rate as a result of the Brexit referendum forced the business to suffer financially, unable to deflect a rise in costs onto its customers due to the competitive trading arena. In addition to this, Mayfair Brassware also endured bad debts and a decline in orders due to a general drop in construction activity.
The business endured a period of marketing to find a buyer but failed to secure a new owner in time. Thus, the business was no longer viable and placed in the hands of administrators.
In light of the administration, the company has been forced to cease its trading operations and hand over responsibility to Begbies Traynor LLP.
The administrators are presently working to realise the company’s assets – primarily stock and a freehold industrial unit located in Sherburn in Elmet – and are inviting potential buyers to express their interests immediately.
Click here to view the Mayfair Brassware Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
An outstanding opportunity to acquire a very longstanding business supplying industrial consumables and janitorial supplies to a highly diversified customer base. There are significant opportunities to enhance product sales and leverage technology im...
The broad product range includes tools, abrasives, oils, spirits, varnishes, wax, paints, polishes and brushes. The company’s success has come from its ability to have leading brand suppliers, a broad product offer, competitive prices, expert product...
Specialises in a range of high-quality new and refurbished spare parts for heavy plant and machinery vehicles. Enviable client base that comprises long-standing relationships with a number of blue-chip clients across the civil engineering and mining...
Financial difficulties at a London-based meat and poultry di...
A contractor based in Aldridge, West Midlands has collapsed ...
Sign up to receive our acquisition alert emails to get your FREE guide
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