Vehicle Recovery Business

SORRY THIS BUSINESS HAS ALREADY BEEN SOLD

Business Opportunity - Vehicle Recovery Business

Vehicle Recovery Business

No Longer Unavailable


Business Opportunity – Vehicle Recovery Business

We are instructed to seek offers for the assets and goodwill of a vehicle recovery company. Brief details as follows:

• North West based.

• The only assets are the vehicle fleet (no plant and equipment and no IT equipment).

• The vehicle fleet comprises:

a) 2 off vehicles subject to finance agreements with negative equity.

b) 3 off recovery vehicles currently located in repair garages where they have been long term.

c) 10 off vehicles, being 8 off recovery trucks and 2 off vans. Five of these vehicles are beyond economic repair and effectively scrap, and 3 of the others are in need of some mechanical attention whilst the remaining 2 have no issues.

See attached schedule.

• The recovery vehicles are all heavy mileage.

• The company historically turned over circa £15,000 per week, but lost a contract with a major motoring organisation which comprised the bulk of its turnover and now turns over circa £2,000 per week.

• There are some small contracts which are strictly non-transferable as well as some ad hoc work which collectively are providing work totalling circa £2,000 per week.

• The company formerly had 15 employees which reduced to 6 on the loss of the main contract, but is due to reduce again as a result of the limited availability of work and the company’s inability to pay wages.

• Because the company is struggling for funds for wages and to pay day to day expenses such as insurance, it can only carry on trading for a very limited time.

We are instructed to seek indicative offers for any such rights as the company may have to the tangible assets together with such goodwill and IPR as there may be from principals only who should provide proof of funding.

It is anticipated that a disposal will be effected by means of a prepack sale as part of an administration process.

Indicative offers (which are non-binding) should be in writing only to:

Mr David W Kay FNAVA MABRP

Robson Kay Associates Ltd

Tilson Road

Manchester

M23 9GF

Email: david@robsonkay.co.uk

to be received no later than noon on 6th December 2023, and as referred to above, will only be considered if they are from principals together with proof of funding.


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