SALE OF LIFT MAINTENANCE CONTRACTS FOR £360,000+
Williams and Partners were instructed to prepare marketing information post-cessation of trade and pre-administration ready for sale post-appointment. Having met with the MD and relevant staff, Williams and Partners contracted directly with and paid 4 key staff members to collate the relevant accounting and administration information necessary to package the sale of 200 lift maintenance contracts. In addition, 2 engineers were retained on contract to Williams and Partners to manage maintenance issues as and when they arose during the period.
Over a 5 day period, Williams and Partners placed a Director on-site to oversee the preparation of information and to carry out a full marketing exercise. Pertinent to the sale were the following facts: – a) Each contract generated £1,000 gross revenue and b) were determinable on 30 days’ notice. With gross profit at circa £70,000 per annum, Williams and Partners directly contacted a number of well-known competitors and offered the contracts for tender without any guarantee that clients would not immediately cancel contracts on notification of a change of provider.
5 offers were obtained and the contracts were sold within a week of cessation of trade for £362,000.