Barcon Precast Ltd is a manufacturer and supplier of precast concrete products. They have been in business for over 30 years.
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.
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.
“ As a result of this sale the 24 jobs at the site have been saved. It has also resulted in many of the customers’ orders remaining on track with the purchaser now working hard to meet the deadlines. ”Keith Tully, Partner
17th April 2019
HMRC applied to see more than 4,000 UK companies closed down over the course of 2018 and is being too aggressive in its pursuit of tax-related debts.Read More
12th April 2019
British high streets saw the sharpest rate of net store closures on record over the course of last year, according to a new set of figures.Read More