Taylor Barnard puts price on BI
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• Receivers brought in to find a buyer for Southampton-based international haulier British Internatonal are looking for a sale price of between E5-6m.
Graham Born, of London accountants Maurice J Bushell & Co, was appointed administrative receiver for the troubled firm by Taylor Barnard, which acquired the company last year.
Taylor Barnard is believed to have ploughed £5m into British International, but the company continued to lose money "to quite a serious extent", making a "substantial loss" in 1989.
However, Born is confident that the company, which is continuing to trade, can be sold as a going concern. "BI has a fleet of 45 tractors and 75 trailers in the UK, 25 tractors and 60 trailers in France, leasehold headquarters in Southampton, an office at Portsmouth harbour for customs clearance, a depot in Caen, France, offices in Bordeaux and Oporto and a freehold depot in Mansfield," he says.
"There are also 100 staff in the UK and France and the company continues to enjoy the goodwill of its customers. The company has been trading for over 25 years and is a leader in its field of general goods haulage between the UK and Portugal, Spain, Italy and France."
RI's former managing director, Tim Allen, continues as a director.
Interested buyers sbould contact Graham Born at RI on (0703) 442333.