Pre-pack sale saves long established concrete manufacturer
Barcon Precast Ltd is a manufacturer and supplier of precast concrete products. They have been in business for over 30 years.
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As a result of having to write off a large debt, the company began to experience severe cash flow problems. They had also witness a marked downturn in their orders and were having difficulties in meeting their obligations to HMRC. This resulted in a winding up petition being presented to the company.
Jason Greenhalgh from Real Business Rescue (part of the Begbies Traynor Group) was appointed joint administrator of the company, and set about negotiating with parent company Barcon Systems Limited to agree a sale.
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Following negotiations, a pre-pack sale of the business was completed to parent company Barcon Systems Limited. This sale resulted in 24 jobs being saved and allowed for outstanding orders to customers to be fulfilled.
Still unsure whether liquidation is right for your company? Don't worry, the experts at Real Business Rescue are here to help. Our licensed insolvency practitioners will take the time to understand the problems your company is facing before recommending the best course of action going forward based on your own unique circumstances.