Moorfields Advisory have successfully completed the sale of the business and assets of UK FM Services Limited following their appointment as Administrators.
The business, which provides a comprehensive range of facilities management services including the maintenance and compliance of commercial properties, had encountered significant financial challenges in recent years. These arose from the combined impacts of the Covid-19, Brexit, and wider global economic pressures. In addition, the business faced internal difficulties stemming from weakened financial controls and cashflow constraints.
Despite securing additional funding, the company continued to experience liquidity pressures and was unable to meet its ongoing financial obligations. This ultimately led to a winding up petition being presented by HMRC.
Moorfields undertook an accelerated marketing process for the business and its assets and were subsequently appointed as Administrators. This process culminated in a successful pre-packaged sale, ensuring continuity of service for clients and the preservation of employment for 24 employees and all the subcontractor workforce.
Andy Pear, Partner at Moorfields Advisory, commented:
“We are pleased to have secured a sale that protects jobs and allows the business to continue providing essential services to its customers. The facilities management sector has faced considerable challenges in recent years, and this outcome provides stability for the company’s staff and clients while safeguarding value for stakeholders.”
ENDS
For media enquiries, please contact:
Katie Smith
Tel: +44 (0)20 7186 1144
Email: ksmith@moorfieldscr.com
