From the administrators' statement

Prior to the appointment of the Administrators, an M&A process was conducted by the Company with a view to achieving a solvent sale of the business as a going concern

Despite a robust process having been undertaken, no offers were received for the business

As a solvent sale of the business was not possible, coupled with the substantial deficit owed to the Company’s defined benefit scheme and mounting creditor pressure, the directors formed the view that in order to protect the interests of all creditors, the appointment of administrators to the Company was the most appropriate course of action

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Longton Crane Hire Limited (01450259)

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