CCR Magazine

You are here  :Home arrow News arrow Commercial Credit News arrow SFP conducts sale of Britannia Fork Lift Trucks
Contact Us Newsletter Signup RSS Feeds

SFP conducts sale of Britannia Fork Lift Trucks PDF Print E-mail
Thursday, 16 November 2017
Nationwide insolvency practitioner, SFP, has completed the successful sale of the business and assets of Britannia (Britannia) Fork Lift Trucks.  

Established in 1990, Britannia is an independent dealer that sells, hires, leases, services and maintains fork lift trucks. It also has a team of road engineers that repairs all leading makes of fork lift vehicles on site, covering the South East, London, Sussex and Essex.

Despite turning over £2 million in 2016, cash flow problems struck the Charing-based business during a challenging 2017.

After careful consideration, the director sought the appointment of Administrators. SFP’s Simon Plant and Daniel Plant were appointed as Joint Administrators of the Company on 31st October 2017.

While carrying out negotiations for the sale of the business, SFP continued to trade the business and held discussions with suppliers and creditors to keep them informed of developments. A sale of the business was concluded on 10th November to an independent third party, backed by Red Diamond Distribution Limited, the sole UK importer of Mitsubishi Forklift Trucks. The trading name of the new business will be Britannia Materials Handling Limited.

“Any business experiencing financial difficulties should consult expert advisors before the situation becomes too serious, as there are often solutions to alleviate some of the issues,” says Simon Plant. “We have managed to sell the business to an independent third party and maintain the company’s goodwill.”
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

Commercial Sponsor

This Commercial Credit News section area is currently available for sponsorship.   

Please click here to contact us about our site sponsorship opportunities

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197