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Accountants, Auditors and Related Services in Derby
Around 200 jobs have been saved after buyers were found for a commercial cleaning company that had ran into cash flow difficulties.
Tyrone Courtman and Lee Brocklehurst of Midlands-based restructuring specialists PKF Cooper Parry were appointed joint administrators for Elliot Group Holdings Limited 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.
Elliot Group Holdings Limited is a fast emerging cleaning company with a growing reputation for providing cleaning and hygiene services.
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.”
PKF Cooper Parry is one of the largest independent firms of business advisers in the Midlands with an established track record of helping local businesses and private clients in the UK and internationally.
The firm acts for more locally owned private businesses in the Midlands with a turnover in excess of £5 million than any other accounting, tax and advisory firm.
It recently merged with established West Midlands firm Clement Keys to create a business with a combined revenue of £30 million and a 350 strong team across its two offices in the East and West Midlands.
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