On 1 August 2024, Nottingham Breakdown Service Ltd, a vehicle breakdown and repair company, entered administration. Following this, Dean Nelson and Nick Lee, Business Recovery & Restructuring partners at PKF Smith Cooper, were appointed as joint administrators.
As a result of rising overhead costs, including escalating fuel prices, the company faced cash flow challenges. To address these issues, the directors contacted Dean Nelson to oversee an accelerated merger and acquisition process to find a buyer for the business and assets.
After extensive negotiations, a pre-packaged sale was successfully completed on the same day the company entered administration. This sale not only saved all nine remaining jobs but also preserved the business assets and ongoing customer contracts.
Dean Nelson expressed his satisfaction with the outcome, stating, “I am thrilled that we have been able to save all of the remaining jobs and enable the business to service its loyal customer base and ongoing contracts.”
With over 40 years of experience, Nottingham Breakdown Service Ltd offers 24/7 breakdown recovery services and garage services to vehicle owners throughout the United Kingdom. Moving forward, the focus will shift towards maximizing returns for creditors by addressing the remaining assets of the company.
