Group News
Buyers sought for long-standing family caravan business
Restructuring and turnaround specialists at Leonard Curtis are calling for third parties to register interest in a potential sale relating to a long-standing family caravan sales and servicing business in Cheshire.
Leisure Sales Ltd, based in Sandbach, specialises in the sale of new and used models and has been trading as a multi-generational family business since the 1970s.
It operates from a large 17-acre site with a sizeable indoor heated showroom, a recently refurbished accessory megastore including a large dedicated awning display and a 10-bay industry-approved workshop for caravan servicing and repairs.
It employs 21 people.
A number of factors have contributed to current difficulties including an industry in general decline and a significant drop in sales and turnover in the last 12 months.
Directors have tried a number of turnaround strategies, reducing head count and trialing a sale and lease back of property which was ultimately unsuccessful.
Unsustainable pressures on cashflow have now led to an NOI (notice of intention) to appoint administrators last week.
Sean Williams from Leonard Curtis commented: “This is a well-established firm which is continuing to trade. We are actively seeking purchasers with a view to selling the business as a going concern through an Administration process. We consider this will maximise returns for all stakeholders.”
Leonard Curtis, partnering with receivables specialists Cerberus Asset Management, has provided the following email address for interested parties to get in touch and make arrangements to attend the site as soon as possible.
Contact sarah.clayton@cerberus-group.com.
Feedback Form
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec ultricies consequat.
News and insights
Get in touch
with Leonard Curtis
Forward
with purpose
Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Leonard Curtis House, Elms Square, Bury New Road, Whitefield, M45 7TA. 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 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: Leonard Curtis House, Elms Square, Bury New Road, Whitefield, M45 7TA. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.