Fri, 03 May 2013 | ADMINISTRATION
Caravan manufacturer Vanmaster has confirmed that it has entered administration.
The business has been plagued by rumours that it has been facing problems since the start of the year, but confirmed on 29 April that administrators from Geoffrey Martin & Co have been called in.
Production of all bespoke tourers and motorhomes has been halted at both of the Wigan-based company's plants, while all 20 employees have been let go.
James Sleight and Geoffrey Martin from the administrators have been appointed to handle the business. The Vanmaster Ltd company operates under the trading names of Vanmaster Caravans and Bentley Motorhomes, both of which have been affected by the administration. Bentley Motorhomes was bought by Vanmaster just last year.
Mr Sleight commented on the situation: “The business entered administration due to a drop in orders and supplier issues which affected production. We are hopeful that a buyer can be found, as we believe that either or both businesses could be complementary to existing manufacturers or retailers.”
The administration has been attributed to a decrease in the number of orders received from customers in recent months as people continue to watch what they're spending.
____________________________________________________________________________
Related articles:
Profit from buying a distressed business
View caravan businesses for sale
A highly reputable and profitable motor vehicle dealership located in Cheadle, Staffordshire. This family-run business with over 40 years of experience has built a strong reputation for quality and reliability.
LEASEHOLD
Renown Italian bar and restaurant that has been delighting patrons for the past decade. The restaurant has become a beloved local institution, known for its warm ambiance, exceptional food, and superb service. This thriving establishment offers a uni...
LEASEHOLD
This is a highly profitable and well-established enterprise specialising in construction and scaffolding services. With a sterling reputation built over years of dedicated service, the vendor has become a go-to provider for both residential and comme...
19
|
Sep
|
Xeinadin announces 26th acquisition in two years | BUSINESS SALE
Professional services group Xeinadin has completed its 26th ...
19
|
Sep
|
Food and drink firm acquired by founding family | BUSINESS SALE
Aimia Foods Limited, a food and drink manufacturing company,...
18
|
Sep
|
Online travel business completes third investment in 12 months | BUSINESS SALE
Online travel business Travel Seen has acquired a majority s...
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
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.