Corporate Restructuring and Debt Advisory
Guidance for management teams to optimize business outcomes.Corporate Restructuring and Debt Advisory
Duff & Phelps is pleased to announce that it has successfully completed the Administration of a major provider of off-site airport car parking services in the UK.
About the Company
The Company was a recognised brand of off-site airport car-parking services which operated from several UK airports with c.220 staff and annual turnover of c.£12m.
Prior to the appointment of Administrators, Duff & Phelps assisted the Company with options analysis and with proactive discussions with key stakeholders. Duff & Phelps’ role resulted in continued operations and the successful sale of business and assets at the sole profitable site, saving c.150 jobs and maximising asset realisations. Duff & Phelps also completed a swift and orderly wind-down at non-profitable sites.
Following an accelerated M&A process, Duff & Phelps sold the business and assets to Reynolds Catering Supplies Limited in a transaction which preserved the jobs of all 62 staff.
As Administrator, Duff & Phelps sold majority of the business and assets to Hilding Anders Holdings Limited, saving the jobs of over 100 employees.
The company experienced working capital difficulties prior to Administration. Duff & Phelps was appointed Administrator and successfully led the sale to Visionscape Group, preserving the jobs of all staff.
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