Falmouth timber workshop bought out of administration
Norfolk Oak Ltd, the UK’s only timber worktop manufacturer have acquired the Barncrest trading name and goodwill on July 31st, and will continue to run the Barncrest brand as a separate marketing name, ensuring its continued presence in the market.
Ian Walker and Julie Ann Palmer of leading corporate rescue and recovery firm Begbies Traynor were appointed Administrators in the spring of 2011 when Barncrest fell victim to the knock-on effects of the recession on domestic house building and refurbishment.
Norfolk Oak Ltd will be looking to supply Barncrest’s wholesale, retail and contractor clients.
James Everett, operations director of Norfolk Oak, commented, “This is a perfect acquisition for us. Barncrest has an excellent reputation in the market, which we will build on even further. With our large manufacturing capability here in Norfolk, sales through the Barncrest name will be seamlessly integrated, providing enhanced product groups and customer service. We couldn't be happier.”
Ian Walker, Partner at Begbies Traynor, added, “We are absolutely delighted that after a long campaign we have succeeded in finding a good home for this fine Cornish brand.”
Ian joined Begbies in 2000 from Pannell Kerr Forster after practicing insolvency for the previous 20 years with Big Four firms. A member of R3 and a Fellow of the Institute of Chartered Accountants in England & Wales (from which he also takes his Insolvency Licence, he is currently a member of the ICAEW Investigation Committee. Over the years, Ian has dealt with all types of insolvency and at least three recessions. Currently, his practice based in Exeter and Plymouth covers the whole of Devon & Cornwall (including the Scilly Isles), together with as much of Somerset and Dorset as he can get away with! He deals with all types of personal and corporate insolvency and also concentrates on pre- and post-lending review work for all the major lending institutions.