Background

Trident Machines is a manufacturer and supplier of classic entertainment arcade machines and jukeboxes, with over 2000 products deployed across the UK. Following the Covid-19 pandemic and the forced closure of entertainment spaces such as bars and clubs, the Kent-based manufacturer was negatively impacted by a decline in sales among their key customer base. As a result, FRP’s Restructuring Advisory Partners, Nedim Ailyan and Ben Stanyon, were appointed Administrators to provide financial advice to the manufacturer and assess its future profitability.

Action

Following the teams review, it was determined that the most viable option was to undertake a sale of the business and seek to find a suitable purchaser for the manufacturer. The Restructuring Advisory team undertook accelerated marketing of the company’s business and assets, resulting in a pre-packaged sale from Administration to a third-party purchaser, Star Leisure Limited.

Outcome

The pre-packaged sale successfully secures the future of the manufacturer, achieving an uninterrupted continuity for the company’s customer base, with all 69 employees transferred over to the new ownership.