Salou Products Limited (“the Company”), a specialist manufacturer of caravan awnings that trades as Bradcot Awnings, has been acquired out of administration in a pre-pack deal that has safeguarded all jobs.
Gary Blackburn and Paul Whitwam in our Leeds office were appointed Joint Administrators on 29th October 2018, after the business suffered severe cash flow pressures due to the increased cost of manufacturing its products in Eastern Europe and continued competition from cheaper Chinese imports.
Upon appointment, the Joint Administrators secured the sale of the business and its assets to Bradcot UK Ltd. The Company will continue to trade from its existing site in Shipley, with all six jobs transferring.
Commenting on the appointment, Gary said: “We have worked closely with the directors to secure a sale which delivers the best result for all stakeholders, and most importantly saves jobs in the local area and ensures continuity of trade for customers.”