New County to rescue of fencing firms

two York companies have been sold after insolvency practitioners were appointed.
By The Newsroom
Published 27th Apr 2012, 07:00 BST

Kelly Burton and Claire Foster of Sheffield-based Wilson Field were appointed as joint administrators over Panel Shop Ltd and affiliated company S&B Hire and Sales Ltd.

Both companies and their assets were sold to New County Road Surfacing UK Limited, County Durham.

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Panel Shop and S&B Hire are the largest UK-owned manufacturers and suppliers of temporary fencing, hoarding and barriers, supplying their products to a global market.

Company directors sought professional insolvency advice from Wilson Field Ltd after the economic downturn had an impact on business and caused a dramatic decline in orders, according to Wilson Field.

In a bid to achieve the best outcome for all stakeholders, including secured lenders, Wilson Field’s insolvency practitioners avoided an immediate pre-packaged sale and continued to trade both companies while marketing the businesses and assets.

Related topics:York