Administrators from business advisory firm Quantuma have rescued Brentford based Pro-Motion Hire Ltd out of administration, saving all 28 jobs.
Quantuma managing directors Andrew Watling and Duncan Beat were appointed as joint administrators of Brentford based Pro-motion Hire on Thursday 2 February 2023 and shortly afterwards completed a sale of the business to Pixipixel Rental Ltd.
Pro-motion Hire Limited was established in 2005 and specialised in the hire of camera and lighting equipment to firms operating across the creative industries. The business operates from two sites, Brentford and Newton Heath in Manchester, and employs 28 members of staff in total.
The business posted a turnover of £2.6m in December 2022, which is a decline from the previous year.
Joint administrator Andrew Watling said “Pro-motion Hire is a high quality and well-established business which suffered a significant reduction in trade during 2020 as a direct result of the Covid pandemic. A number of large customers put trading on hold whilst they followed the work from home guidance.
“The business was slow to recover as lockdowns were lifted, and has continued to struggle through 2022, exacerbated by a heightened period of slow trade through school holidays and has been further impacted due to unforeseen events including industrial action and adverse weather conditions all reducing filming requirements.
“The joint administrators are delighted to have secured a sale for the business, which not only saves all 28 jobs, but which also represents an excellent outcome for all creditors.”
