Fri, 06 Dec 2013 | BUSINESS SALE
MHA MacIntyre has overseen the sale of a nursery based in Tooting as part of a restructuring plan.
Mayfield Children's Centre was sold at the end of last month (29 November) after directors worked together with the restructuring and recovery team to come up with a means of avoiding the company entering administration.
Parents, support staff and the local community kept the centre running during November while the restructuring team went about “exploring exit strategies” and sought a buyer.
Paul Davis, restructuring partner at MHA MacIntyre Hudson, commented on the issue to Insolvency News: “It is a great success story for an organisation that was struggling financially and felt as though it may not be able to continue trading.
“Not only have staff jobs been saved but children’s places at the nursery have been saved and this essential service will continue to be available in an area where there is a shortage of facilities of this kind.”
No details are available at the moment with regards to who has bought the nursery or how much the transaction went through for.
The nursery provides full-time education and childcare services to more than 45 children.
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