Print Industry Supplies Business Sold To WM Hardill
Twelve jobs have been saved at Unisurf Engineering Ltd after the Bradford-based business was bought out of Administration by WM Hardill Ltd of Batley.
Unisurf Engineering, established in 1972, specialises in the manufacture, production and renovation of components used in a range of sectors from Formula 1 to newspapers and sewage treatment.
Philip Deyes and Sean Williams of Leonard Curtis Business Solutions Group were the appointed Administrators. The Administrators affected a sale of the business and assets on 13 August 2014.
The sale to WM Hardill secures all jobs at the business and it will remain at its current base at Barnard Road in Bradford.
The continued funding provided by the Company’s invoice finance company, ABN Amro, allowed the Company to complete essential work in progress, as well as continued payment of wages and other key overheads in order to facilitate a going concern sale.
The Joint Administrators were advised by Irwin Mitchell’s specialist Insolvency team on both the appointment and the sale of the business as a going concern.
Phil Deyes, Joint Administrator, commented: “Working closely with the secured creditors of the Company, with specific assistance from ABN Amro in the provision of essential working capital to facilitate ongoing trading (in the lead up to the eventual sale), highly skilled jobs have been saved within a sector where finding alternative employment has been problematic.
"In addition, this going concern sale has secured a greater price for the business which will provide significantly improved returns to the Company’s creditors than would have been the case had the Company been forced to cease to trade.”
Expert OpinionWe are delighted to have provided support on this deal and helped achieve a going concern sale.” Tom Paton - Partner