Confidential Advice Line: 0800 063 9221

Nearly 60 jobs saved after laundry firm sold out of administration

Administration

| May 15th 2015

More News by Steve Wade

Nearly 60 jobs saved after laundry firm sold out of administration

Administrators at business rescue and recovery specialists Begbies Traynor have saved 57 jobs at a Port Talbot-based commercial laundry business after securing a buyer for the firm.

Dyfed Cleaning Services Ltd – which was hit by a significant fire two years ago – entered administration on January 29, appointing Steve Wade and David Hill – from Begbies Traynor’s Cardiff offices – as joint administrators.

The sale of the business for an undisclosed sum to Dyfed Laundry Services Limited, part of Swansea-based Solo Service Group ( www.soloservicegroup.com), completed on Tuesday, 12 May.

The business, which is trading as a commercial laundry, three retail launderettes and a distribution centre, remained open during the 14-week administration period.

Steve Wade, director with Begbies Traynor, said: “We are delighted to have achieved a sale of the whole of the company’s business, preserving nearly 60 jobs, and allowing a very well-known local independent business to continue to provide a quality service to its customers in South and West Wales and further afield.”

Steve Hammett, chief executive of Solo Service Group, added: “We are looking forward to taking this business to the next level, by making significant investment in the business and increasing the customer base. Dyfed’s brand in synonymous with high quality service, and we will be looking to breathe new life into the brand.”


About the author

Steve Wade

Partner

Meet our Team of Experts

Steve is a qualified insolvency practitioner, having started his accountancy career with Deloitte Haskins & Sells, staying with them through the various mergers until leaving Price Waterhouse Coopers in the late 1990s. He then spent a few years working in credit insurance underwriting and recoveries, before joining Begbies Traynor in 2002 to help set up its first office in south Wales based in Newport. He moved to the Cardiff office following Begbies' acquisition of a leading liquidation practice in the city and currently works on trading assignments, as well as other corporate appointments and business reviews.

A keen musician, Steve spends much of his free time playing for a number of groups performing across south Wales and beyond.

47 Regional UK Offices

Find your local Begbies Traynor office and speak to an adviser today.

Find your Local Office
0800 063 9221

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0800 464 0871

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0161 837 1700

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
Advice for businesses on EBTs after HMRC Supreme Court victory
Begbies Traynor currently advising numerous businesses
HMRC sends out follower notices to reclaim tax lost to Employee Benefit Trusts
Find out more →
 
Open Banking to Reshape the Alternative Finance Sector
CMA mandates the adoption of Open Banking by early 2018
Will see alternative lenders competing on a level playing field with dominant banks
Read more →
 
Join thousands of professionals by signing up for our updates
Analysis and Opinion from our Partners
Top Industry News
Register Now →
 

Advice you can trust

We are accredited by the following industry leading organisations

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland

Contact the Begbies Traynor team

or Find your Nearest Office
Processing...