All jobs saved as vehicle breakdown firm gets back on the road after pre-pack sale

All jobs have been saved at vehicle breakdown and repair company, Nottingham Breakdown Service, following a pre-pack sale.

The company collapsed into administration on August 1 with Dean Nelson and Nick Lee, business recovery and restructuring partners at PKF Smith Cooper, appointed as joint administrators.

The sale saw all nine jobs saved, as well as the business assets and its ongoing customer contracts. The business has been able to keep hold of all current customers and can continue to service its contracts.

With over 40 years’ experience in the industry, the business provides 24/7 breakdown recovery services and garage services, including repairs and servicing, to vehicle owners across the country.

The company’s issues arose as a result of the rising costs of overhead inflation, including increasing fuel costs, which put pressure on its cash flow and working capital requirements.

Due to these difficulties, Nelson was contacted by the directors of the company to conduct an accelerated merger and acquisition process and try and identify a purchaser for the company’s business and assets. A pre-pack deal completed on the same day that the company fell into administration.

Nelson said: “I am thrilled that we have been able to save all of the remaining jobs and enabled the business to service its loyal customer base and ongoing contracts. We always strive to achieve the best outcome for everyone involved, and it is great that we have managed to save the business and assets. Our attention now turns to the remaining assets of the company, to try and achieve the best possible outcome for creditors.”