Facilities management firm sold in pre-pack deal

Stricken Chesterfield-based firm Entire Facilities Management was sold out of administration in a pre-pack deal worth just £38,000, it has been revealed.

Entire Facilities Management, which traded as Entire FM, has been sold to Alkota Group, a company run by Peter Currey, also a director of Entire FM.

All 42 employees have transferred over to the new company.

Unsecured creditors of Entire FM company are unlikely to see any of the money owed to them, according to documents seen by TheBusinessDesk.com.

Entire FM had been trading since 2015 and by 2021 had contracts worth over £100,000 a month. At this time, a new managing director, Matthew Maguire, was brought in as the firm expanded. However, by 2022 the business was under pressure. Debtor days were on the rise and there were “various forms” of creditor pressure, according to administrators from Seneca IP.

In mid-2023, Maguire left the firm with Currey stepping back in to run the business. Around this time, Currey sought advice from turnaround firm BCIA, which, in turn, introduced Seneca IP – which placed Entire FM in administration on January 8.

According to its website, Entire FM has worked for the likes of the NHS, Burger King, HSBC, Costa Coffee and NatWest.

Although headquartered in Chesterfield, the firm also has offices in London, Lincoln, Birmingham and Manchester.