Skan confident after buying Boughton from administrator
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ENGINEERING COMPANY Skan Holding Group says it is confident of future development following its purchase of bodybuilder Boughton Group after the latter went into administration in April.
The deal, handled by administrators Baker Tilly, sees Skan Group Holdings take over the business and all assets of the Boughton Group, which includes Reynolds Boughton and Reynolds Boughton (Devon).
The failed business, which makes skip and hookloader bodies, got into financial difficulties as the market went into decline. It sought a company voluntary arrangement with the majority support of its suppliers, which was rejected by HMRC.
Skan Group, which owns trailer manufacturer Oldbury UK, says it plans to “ramp up” business as soon as possible and has taken on previous employees made redundant when the firms entered administration.
It has also launched a recruitment drive thanks to a “strong flow of orders and improved buoyancy in the market”.
Oldbury UK MD Richard Skan says: “We have had a phenomenally warm reception from loyal customers of the brand, who have been anxious to hear that the company is in safe hands and with a sound future. This has been confirmed with a number of significant orders taken in week one of Skan’s ownership.” Boughton Group employs more than 40 people from sites in Barton-under-Needwood, Staffs and Winkleigh, Devon. The new company will be known as Boughton Engineering.