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Asset sale for Redcar heating business hit by pandemic
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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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.