Failure to find buyer leads to Bosal closure AFTERMARKET VEHICLE
4th April 2013, Page 6
4th April 2013
Page 6
Page 6, 4th April 2013
— Failure to find buyer leads to Bosal closure AFTERMARKET VEHICLE
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exhaust manufacturer Bosal (UK) has closed its manufacturing business after joint administrators Duff & Phelps could not find a suitable buyer for the Preston-based firm's division. It ceased trading last week, with the loss of 116 jobs.
The company's warehouse will stay open through the administration. Its sales and marketing activities have been sold to Bosal International RV. and Bosal Tobo B.V.
The company appointed joint administrators Philip Duffy and David Whitehouse on 11 January, owing creditors over £23m. Duffy said: "It became apparent that no purchaser was in a position to submit a deliverable bid for the business as a whole, or specifically for the manufacturing facilities."