Buyers sought for Halls Group builders' merchant
Published: 14 July, 2011
NORFOLK: Administrators are hopeful they will be able to find a buyer for Halls Group, a family-owned builders' merchant, which was put into administration yesterday.
Halls, which has been in business for nearly 70 years, entered administration after a creditor filed a winding-up petition, forcing the company's funders to file a notice of intention to appoint administrators.
Nigel Millar and Graham Bushby, partners at Baker Tilly Restructuring and Recovery LLP, were appointed to take care of the process. "Due to lack of funding the business has ceased trading and all the 32 staff have regrettably been made redundant," Mr Millar said.
"However, there are a number of potential purchasers and we are hoping that we may be able to secure a sale of the business and assets in due course."
The company runs two sites in Gorleston and two more in Acle and Scratby. A buyer was successfully found for two sub-divisions of the company - Yarco Fencing and Precast Concrete – bolstering the potential for a sale of the rest of the company.