200 jobs saved as East Mids admins clean up

Two East Midlands restructuing professionals have been instrumental in saving around 200 jobs after buyers were found for a commercial cleaning company that had ran into cash flow difficulties.

Tyrone Courtman and Lee Brocklehurst of Castle Donington-based restructuring specialists PKF Cooper Parry were appointed joint administrators for Elliot Group Holdings following increasing pressures on the company’s working capital facility.

The company will now continue to trade and employ around 200 people after it was bought by its incumbent management after PKF Cooper Parry were called in on 10 August.

After conducting a brief review of the company’s financial position and future viability, PKF Cooper Parry concluded that the best thing to do was to affect an immediate sale of the business to its existing management.

Tyrone Courtman said: “It’s always a shame to see a business run into financial difficulties, and the last thing anybody wants is to see 200 people out of work because of this.

“We worked hard to quickly put together a plan for Elliot Group Holdings and I’m satisfied that under its new ownership it will grow into a thriving business in the future.”