Investment company Neovenator has bought the Gaia Renewable Energy Centre, which has been under the management of Begbies Traynor partner Andy Beckingham since March.
The centre was built in 2001 as an educational, community and tourist resource at the Delabole wind farm. It suffered cash flow problems and a fall off in visitors during the foot-and-mouth crisis.
Beckingham said: ‘The centre is rather different from most of the businesses we work with, and we have worked closely with both its trusteess and its secured creditors to get this result. The purchaser views the centre as an interesting and challenging project, and I am confident that it will achieve its full commercial potential.’
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