Successful Administration of a pressure diecasting business

Quantuma oversee the successful administration of pressure diecasting business BSC Diecasting Limited.

Overview:

  • Zinc and aluminium pressure diecasting
  • Employed circa 80 staff and the director was keen to protect the jobs of employees
  • The director was concerned about the company’s financial position which had worsened over the last few months of trading
  • Appointment by the company director

Outcomes:

  • We undertook a full review of the company’s financials to assess what options may be available
  • Unfortunately, from this review it was apparent the company was insolvent and that creditor pressure was continuing to increase
  • On the basis of the company’s insolvency it was recommended that the company was placed into administration and that the business and assets were marketed for sale. This would preserve the value in the business and protect the jobs of its employees
  • We instructed agents to undertake a valuation and undertook a full marketing campaign to advertise the sale of the business and assets
  • We successfully secured a sale of the business and assets which were sold by the Administrators upon their appointment
  • All employees were transferred to the purchaser, securing all jobs

 

For more information on Administration, please click here