Background

Johns Cross Conversions Limited is an established motorhome dealership based in East Sussex, selling both new and used motorhomes. Following the Covid-19 pandemic and the national imposed lockdown, the company suffered from a substantial fall in sales revenue. This placed severe strain on working capital availability, leading to the director’s seeking advice from FRP.

Action

Restructuring Advisory Partner, Ben Stanyon, was appointed Administrator in order to determine the future profitability of the Company. Following FRP’s review, it was determined a sale of the dealership would be the most viable option, with the team initiating marketing efforts to find a suitable buyer.

Outcome

Within two months, the team executed a successful sale of the business and assets to a connected party, securing its future and enabling the continuation of trade for its customer base. The sale retained existing talent, seeing the transfer of all employees to the new ownership,