Published: 31st March 2014
Nineteen jobs at two fibreglass products manufacturing businesses have been saved after the companies were sold out of administration.
The sale of Country Leisure GRP Ltd and Loyal Grove Leisure LLP has been announced by Julie Palmer and Neil Vinnicombe, of business rescue and recovery specialists Begbies Traynor.
The administrators were appointed over the businesses to handle a sale out of administration to Country Leisure Fibreglass Limited.
Country Leisure GRP Ltd and Loyal Grove Leisure LLP employed 39 members of staff from premises in Cholderton, near Andover in Hants, and Burntwood in Staffordshire.
The firms specialise in the manufacture and contractual business of fibreglass products including architectural features, water slides and vehicle bodies. Combined turnover of the group was around £3m.
Julie Palmer, who is regional managing partner for Begbies Traynor’s South West region and based at the firm’s Salisbury office, said: “The businesses had previously suffered a slew of bad debts and we always felt that there was always a viable business here if they were given a fresh start.
“We were particularly pleased that we were able to save 19 of the 39 jobs. The business will continue to operate from its premises in Cholderton.”
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.