Confidential Advice Line: 0800 063 9221

Manufacturing Firm in Forfar Ceases Trading


David Menzies and Ken Pattullo of Begbies Traynor were appointed as provisional liquidators of the 39 year old family business, Ross and Bonnyman based in Forfar, Angus on Thursday 2 February 2012.

Located on Roberts Street, the former £7m turnover company is one of the UK’s market leaders in the design and manufacture of lifting solutions and specialist products including yard lifts, mezzanine lifts, dock levellers, lifting decks, ambulance lifts and access ramps. The company supplies the distribution, retail, service, food and drink, and rental sectors as well as local authorities. Its products can be found on commercial and passenger vehicles throughout Europe.

“It is very sad to see the end of such an established company and it will be a great loss to the local community,” commented provisional liquidator Ken Pattullo. “Although we are still trying to establish fully the circumstances behind the company’s financial difficulties, we believe the problems have stemmed from an inability to adjust the overhead base quickly enough following the sale of the commercial vehicles spare parts division of the business last year to Ratcliff Palfinger, together with a reduction in orders due to retail superstore and warehouse expansions being slower than anticipated and public sector spending cuts affecting the ambulance lifts part of the business.”

The company employs about 80 staff at its factory and head office in Forfar.

Provisional liquidator David Menzies added, “While it is inevitable that we will have to make redundancies, we are hopeful that with such a well known brand and leading products in the lifting solutions sector, we will be able to achieve a sale of the assets and business. We have already had a number of enquiries, but in the short term we cannot continue trading the company due to lack of cash flow to pay employees and suppliers.”


About the author

Ken Pattullo

Regional Managing Partner

Meet our Team of Experts

Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.

Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.

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...