Mon, 15 Feb 2016 | BUSINESS SALE
Four months after being bought out of administration by its sister company, Chesterfield-based Peak Toolmakers Ltd finds itself in difficulty once more. The original deal, with Peak Toolmakers (Assets) Ltd, managed to save around 50 jobs, but that now looks to have had only a temporary effect.
The distressed business, which supplies machine tools for Jaguar Land Rover, Nissan and BMW, has now been put up for sale by insolvency specialists due to a lack of capital. Kelly Burton and Rob Dymond of Wilson Field were charged with handling the sale of the manufacturer, with 13 staff being retained to complete the current run of orders and all other staff being made redundant.
Kelly Burton told Insider Media Limited: “Peak Toolmakers had a number of orders but ran into difficulty due mainly to a lack of working capital.
"This situation has now resulted in us being appointed and, at this stage, regrettably having to make a number of staff redundant. The company is still trading but operating on a total of 13 staff to complete current orders.
“For any potential buyers, there are skilled staff available in the local vicinity and they would be buying a recognised name in the industry with a good reputation and an established customer base.”
Business recovery and insolvency specialists Wilson Field were originally asked to look at Peak Toolmakers back in September 2015, when a major customer reduced its orders significantly. Before that time, the business had remained in profit for a decade.
View the latest UK businesses in administration.
The company designs and delivers electronic portfolios for organisations that capture and assess evidence for personal, professional, and organisation recognition, internationally. The company creates leading digital solutions that mirror and enhance...
A distributor of oils and ancillary cleaning products to a wide client base, and is not dependent on any one client or market sector. These Items are an essential component to ensure smooth operation of equipment and reduce wear & tear and reduce ope...
The company is an equestrian business comprising a popular retail store, accredited livery and riding facilities and a competitive events operation, operating from an attractive rural location in the East Midlands.
LEASEHOLD
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.