Moorfields saves Jack Holt from closure
Simon Thomas and Fred Satow, partners at Moorfields Corporate Recovery LLP and joint administrators to Jack Holt Ltd (“Holt”) are pleased to announce that following an intensive three week marketing period they have successfully completed a sale of the business and assets to Holt Marine Ltd.
The sale is on a going concern basis saving a number of jobs and will allow the well established Holt brand to build on their historic success and flourish once again.
Simon Thomas, Insolvency Practitioner of Moorfields commented on the sale:
“There has been a large amount of interest in acquiring the business, with a number of competitive offers made. We are pleased with the outcome as it was the offer which represented the best outcome for the creditors of Jack Holt Ltd”
A spokesman for Holt Marine commented on the purchase:
“We are pleased to have purchased the business and continue trading under the Holt brand. It is important for us to move the new business forward by building strong relationships with both customers and suppliers”.
Moorfields Corporate Recovery LLP is one of the UK's leading independent firms of restructuring and insolvency specialists.