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Asset sale for Redcar heating business hit by pandemic

Restructuring and Insolvency
16
June
2022
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Joint Administrators, Sean Williams and Phil Deyes, from Leonard Curtis Business Solutions Group, appointed to Redcar-based BMM Heaters last month, are now marketing assets for sale from the business, including property, plant and machinery.

BMM Heaters operated in the heating engineering sector and had been hard hit by the pandemic, ceasing trading in May. 

Sean Williams from Leonard Curtis commented: Unfortunately Covid 19 made business difficult for BMM Heaters as confirmed orders were slow to get started, significantly reducing turnover. Although attempts were made to shore up cash flow, there was too much pressure on it to continue trading.

Prior to the appointment of Joint Administrators all 18 employees had been made redundant and are currently being supported by Emprove Limited, a specialist HR provider.

Sean Byrne, Director from BMM Heaters, commented: I would just like to thank all the employees for their hard work during this difficult time and for customers support and the orders we received. It was very much appreciated.

The Joint Administrators are now looking to improve the wider creditor position by maximising value of the physical assets.

Third parties interested in premises, stock and equipment need to contact melissa.smithers@leonardcurtis.co.uk for more information.

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