Eight jobs saved as removals firm sold out of administration
Historic removals and storage firm Purvers International Ltd, of Gosport, Portsmouth, has been bought by Petersfield-based Britannia Reeves after being placed in administration.
Gavin Savage and Kirstie Provan, of business rescue and recovery specialist Begbies Traynor, were appointed joint administrators of the firm, which was established in 1909, on 14 August 2014. The sale took place on the same day.
The business, along with its eight-strong team of office-based staff, will relocate to Reeves’ site in Petersfield and the long-standing Purvers International brand will continue. The company served both domestic and commercial clients nationally and internationally.
Gavin Savage, who is based at Begbies Traynor’s Southampton office, cited the challenges of an evolving market as the main reason for the business’s problems.
He said: “The national and international removals market has witnessed large changes due to the downturn in the housing market during the recession, which resulted in increased competition and reduced margins. But we’re pleased to say that we have been able to secure a sale of the business and assets, and this means that Purvers International will remain a trusted name in removals both locally and globally for the foreseeable future.”
Gavin joined Begbies Traynor in Southampton in 2008 having been involved in business recovery and insolvency since the late 1980’s. His career started with KPMG in Southampton experiencing a wide range of both corporate and personal insolvencies. Having passed JIEB in 1997, he moved to Ernst & Young in London, where he was involved in a number of large corporate insolvencies in a wide range of industry sectors. Gavin was also a director of a marine company, retailing luxury leisure boats, with offices throughout the UK and Europe. This experience has provided him with a good understanding of the issues facing businesses, directors and stakeholders.
Gavin is a member of the Insolvency Practitioners Association and deals with all aspects of corporate recovery work.