Some 275 employees of the group saw their jobs secured after BHD’s Aqualux subsidiary, which makes showers, was sold to a management buy out team.
Joint administrative receivers Myles Halley, Richard Fleming and Mark Orton will now focus on the remaining companies in the group, which operate in the home improvement market and include Portland Conservatories.
Their combined turnover is around £70m and is based on sales of windows, doors and conservatories in the Midlands and the North.
Myles Halley said: ‘We are delighted that a sale of Aqualux could be achieved so quickly. We are now hopeful that we can stabilise the remaining businesses and find purchasers for them.’
‘In the meantime, we are talking to the companies’ key customers, suppliers and employees to preserve the value of the businesses.’
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
Smith & Williamson has been appointed administrators of charity 4Children