Grosvenor Chemicals, which is part of the Whyte Group, has over 25 years’ experience in synthesising, formulating and packing chemical products for a variety of industries including the agrochemical, pharmaceutical and household and industrial markets.
Paul Zalkin and Andrew Andronikou have been appointed administrators to Huddersfield-based Grosvenor Chemicals Ltd.
Grosvenor Chemicals, which is part of the Whyte Group, has over 25 years’ experience in synthesising, formulating and packing chemical products for a variety of industries including the agrochemical, pharmaceutical and household and industrial markets.
This follows the administration of fellow-Whyte Group company Whyte Chemicals Ltd earlier this year, on which both Zalkin and Andronikou were also appointed. The group was obliged to restructure its credit facilities following negotiations with its previous funder, resulting in severely restricted working capital availability.
The joint administrators have secured additional funding for Grosvenor, which continues to trade whilst the business and assets are marketed for sale.
Paul Zalkin, director at Quantuma, said: “Much like the successful transaction we arranged to support Whyte Chemicals earlier in the year, we are optimistic that a rescue deal will be completed for Grosvenor Chemicals. We have identified several interested parties, and meaningful negotiations are at an advanced stage.”
ENDS
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).
