Mon, 10 Oct 2011 | BUSINESS SALE
Welsh plywood import company, FG Hawkes (Western), has been put into administration by its directors.
It is understood that the company, which trades under the brand RKL Plywood, has been facing financial difficulties for some time, but administrators from Grant Thornton have said that there is still a very strong company there for a prospective buyer. Alistair Wardell and Nigel Morrison from Grant Thornton have now begun an intensive search for a new owner.
A spokesman for the company's bankers, Barclays, said they had been working with the company to find a solution for some time.
"Barclays has worked with the directors of FG Hawkes for some time to try to help them resolve the company’s financial problems," the spokesman said. "Unfortunately this has not been achieved and the directors have now placed their company into administration."
FG Hawkes is owned by the chairman of Neath Rugby Club, Geraint Hawkes, and is based at Kings Dock, Swansea. It imports plywood from China and Brazil for the building trade and had a turnover of £34 million last year, making it Wales's 132nd biggest business. It currently has £7 million worth of plywood in stock at its depots around the UK and Ireland, and some £3 million in transit.
The most recent accounts for the company, for the year to July 2010, showed the company had net assets of £9.96 million, an annual pre-tax profit of £962,967 and an operation profit of £1.9 million.
This is a unique chance to purchase a well-established vineyard and winery set in the beautiful countryside of South East England. Please note that the deadline for expressions of interest is Friday May 9th at 4pm with a deadline for final offers Wed...
Opportunity to acquire a multi award-winning specialised construction company with expertise in cleaning, repair, and conservation of historic stonework and decorative surfaces. Offers are invited from serious buyers by close of business, 9 May 2025,...
A well-established London based consultancy with expertise in complex international environments is seeking immediate equity investment or a sale of the business and/or its assets. Interested parties are advised to express their interest by 5:00 p.m....
28
|
Apr
|
French group Egis buys U.K. engineering firm Omnia Projects | BUSINESS SALE
French group Egis has acquired Omnia Projects, a UK-based en...
28
|
Apr
|
IT group KubeNet snaps up Scottish peer ISN Solutions | BUSINESS SALE
Glasgow-based internet service provider and managed IT speci...
28
|
Apr
|
Montrose-based Crawford Architecture chooses employee ownership | BUSINESS SALE
Montrose-based Crawford Architecture has transitioned to emp...
24
|
Feb
|
Acheson Construction folds into administration | ADMINISTRATION
Dorchester-based Acheson Construction has collapsed into adm...
11
|
Nov
|
Construction firm Troy Central falls into administration | ADMINISTRATION
Suffolk-based refurbishment contractor Troy Central has fall...
22
|
Oct
|
Merseyside glazing firm falls into administration | ADMINISTRATION
Merseyside-headquartered door and window manufacturer Total ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.