Tue, 24 Jan 2012 | ADMINISTRATION
The window and ironmongery specialist company, Avocet Hardware, has called in administrators in the wake of a major client going bust.
The company, which is headquartered in Brighouse in West Yorkshire, has called in Andrew Stoneman and Ben Wiles from financial advisory firm Duff & Phelps to search for a buyer for the company, which had also suffered losses at its Chinese factory.
Avocet has been operating since 1978 through three main divisions: Builders Hardware, a Door & Window Hardware division and a High Security Lock division. Mr Stoneman said that they were optimistic of finding a buyer for the company, as it has a good position in a vital market.
“The UK hardware and fixing market is estimated to be worth some £220m per annum,” he said. “Discussions are on going with a number of different parties who wish to acquire all or parts of the business. This is a fantastic opportunity and anyone who is interested in the business should contact us immediately for further information.”
Avocet has already offloaded its loss-making Chinese factory, selling it in December 2011, but it had already taken an insurmountable toll on Avocet’s finances.
The company has the freehold of its Brighouse property, which comprises a 90,000 square foot warehouse, a 33,000 square foot five-storey mill and an 11,000 square foot reception and showroom.
The company have experience and expertise in contract management solutions via tech driven portals and apps to ensure work is compliant with IR35. In addition to specialist recruitment and contractor management, the company offer outsourced payroll a...
The company’s offering includes installation and maintenance of satellite services, digital signage, TV distribution systems, Audio & Video solutions, Indoor and Outdoor LED, Wi-Fi installations, PC staging, and content creation. Other skills cover C...
An opportunity to acquire a reputable IT services company based along the M4 corridor with over 20 years of trading experience. The company has built and maintained a thriving, long-standing client base of businesses across a variety of sectors.
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.