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Update regards Britspace Modular Buildings Limited (in administration)

19 August 2011

David Thornhill and Geoff Rowley, partners at specialist restructuring, recovery and insolvency firm FRP Advisory LLP and Joint Administrators to modular building manufacturer Britspace Modular Buildings Limited, have provided the following update on the company administration:

Since Britspace Modular Buildings Limited entered administration on 15 August 2011, FRP Advisory has received more than 30 expressions of interest in acquiring the business. From this, nine interested parties have visited the Britspace factory site and held meetings with both FRP Advisory and senior company staff.

FRP Advisory has continued to liaise with Britspace's customers, with the aim of completing ongoing contracts. 

David Thornhill said: "We are extremely pleased to have received a high level of interest in Britspace, which further confirms the company's strong reputation and the unique place it holds in the modular building market.

"We have now entered more detailed negotiations with a number of interested parties, which will continue with the hope of completing a sale of Britspace as soon as possible. In addition, we have spoken to Britspace's employees this morning to keep them informed of the company's position, and will continue to do so." 

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