Administrators from RSM Bentley Jennison have been called in at
Cardale Group, the struggling
company which caters for 40% of the UK’s residential garage door market.
Simon Thomas and Fred Satow are now keeping the company trading while looking
for a buyer.
The companies in administration comprise Cardale Group Limited, Cardale
Properties Limited, Cardale Doors Limited, Bowburn Limited and Wessex Garage
Simon Thomas, joint administrator, said:
‘We are very optimistic that there will be a high level of interest in the
group, given their significant market share, established brand names and
multiple locations across the UK.
‘As such, we will be looking for a quick sale.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies