BusinessBusiness RecoveryBegbies sells business overnight

Begbies sells business overnight

Insolvency firm Begbies Traynor has sold a troubled delivery business as a going concern one day after being appointed joint administrative receivers of the company.

Partners Nick Hood and Tim Dolder sold Trans-Action Fast Delivery Service Limited, a courier company based in Basingstoke, to Basingstoke-based Gazelle Couriers on 14 June.

The receivers were appointed on 13 June and have managed to secure all the jobs at the rescued company.

Nick Hood said: ‘As receivers our emphasis is always on saving the business concerned and protecting as many jobs as possible. This has been a success on both counts and we are confident that the purchase will prove to be a profitable one for Gazelle.’

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