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Jobs rescued at Yorkshire cleaning firm as Leonard Curtis steps in
18 jobs have been saved at a West Yorkshire cleaning company after experts from Leonard Curtis provided advice in relation to a pre-packaged administration sale.
Sean Williams and Phil Deyes were appointed as joint administrators of industrial cleaning specialist and supplier Aquila Facilities Ltd on 14 March 2023 after the business began to suffer financial constraints.
The company - based in Wetherby - had experienced reduced turnover during the period of COVID restrictions. Demand for labour increased following the reopening of UK businesses and staffing became a challenge - with costs becoming problematic to the point where some contracts were making a loss.
Aquila Facilities was marketed for sale prior to Leonard Curtis being appointed as Administrators, the sale completed upon the appointment of the Administrators - helping to secure the future of the employees and minimise creditor claims.
The joint administrators were assisted by Leonard Curtis Legal and the Cerberus Group. The purchaser was advised by Weightmans in relation to the transaction.
Sean Williams, Head of the Yorkshire & North East region for Leonard Curtis which includes offices in Leeds, Gateshead, Sheffield and Barlborough, stated: This is an excellent result given the difficult circumstances the company faced.
There was an imminent danger of the company running out of cash and ceasing to trade, which would have been a significantly worse result for stakeholders.
We worked with the company to ensure the company had sufficient working capital to meet critical payments - and a sale out of administration was possible, which importantly resulted in all jobs being retained.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
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.