Moorfields Advisory, a leading restructuring and insolvency firm, has successfully secured the sale of Lakers Building & Fencing Limited, a building merchants in West Sussex and Surrey.
The builders merchant established in 2010 had 3 premises across West Sussex and Surrey but unfortunately suffered difficulties due to significant rises in raw materials and overhead costs.
Joint Administrators Richard Keley and Andy Pear completed a pre-packaged sale out of Administration shortly after their appointment on 30th October 2023, securing the jobs of 8 staff and continued trade at 2 of the companies’ premises.
Richard Keley, Partner at Moorfields said “We are pleased to have secured the sale of Lakers Building & Fencing and to have protected the employment of staff.
Many businesses particularly those in the construction industry have seen substantial increases in raw materials and operational costs and had no option but to pass these on, in turn this has meant they are battling with a slowdown in household demand.
