Sold the business as a going concern, achieving high realisations and retaining staff.
By The Numbers
Initially we were instructed to provide a valuation of the stock and some plant & equipment across three locations in North Somerset. Titan Ladders Limited, the largest manufacturer of aluminium ladders with 44 staff and an annual turnover of £5.5m, fell into Administration at the end of 2015. We helped identify the staff required to continue running the business and retain its core value during Administration. Mazars LLP, the appointed Administrator then engaged us to market the business for sale. We put in place a cohesive marketing campaign to attract buyers, dealt with all interested parties, retention of title claims, and were on-call 24 hours a day to advise and assist security. Through our contacts, we secured a top buyer for the business, who completed the transaction quickly and retained some of the existing staff. In addition, there were ‘goods-on-water’ in transit from China. We liaised with the shipping company, a creditor of the business, to provide us with access to the cargo and subsequently sold it to a third party achieving a significant realisation. Further to the above, we assisted the landlord with the sale of plant & equipment owned outside of the business, and were able to recommend a local property valuer to assist with the sale of the properties. All stakeholders experienced a very satisfactory outcome.