Edward Symmons sells WM Taylor Swimming Pools assets

Michael Hunt

The Manchester office of Edward Symmons has valued and sold the assets of WM Taylor Swimming Pools after the business was placed into administration.

Preston-based WM Taylor Swimming Pools sold assets which included private and commercial vehicles, along with jacuzzis, saunas, specialist parts and construction equipment.

Sales were also completed on the company's property portfolio including its Preston office headquarters and 8,102 sq ft workshop in the nearby village of Rufford.

Ben Lynch, partner in Edward Symmons' corporate recovery team, said: "It is clear that many niche manufacturing companies are struggling in the current climate, which has led to a considerable increase in instructions to sell on operational companies, or, as in this case, assets and property on a piecemeal basis.

"For investors this has presented a rare opportunity to purchase second-hand specialist machinery and brand new parts that would normally only be available to the market through a limited number of niche providers.

"We received considerable interest on this instruction, a distinct increase compared with equivalent auctions of twelve months ago. This noticeable return to the market of investors who are willing to put their money where their mouth is represents a very good sign for lenders keen to recoup finance on businesses that borrowed funds and have since ceased trading.

"It has also meant that the prices achieved on these sales are approximately 50% up on what we were able to secure six months ago."

WM Taylor Swimming Pools was placed into the hands of administrator Grant Thornton on 28 July.

Your Comments

Subscribe to our newsletter