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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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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.