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Goodwill of long running trailer company lives on

Portland Business Recovery has negotiated the sale of the goodwill and assets of a family run company formed in 1969.....

R.M. Trailers, who specialised in the designing and manufacturing of trailers, had been affected by the general downturn in the economy. This led to redundancies being made earlier in the year and the director was concerned that the only outcome was going to be for the company to cease trading and the assets sold at an auction.

With the assistance of Portland, steps were taken to place the company into administration and after dealing with suppliers retention of title issues, a sales memorandum was sent out and it was clear that there was some interest in the name and assets. A sale was concluded during the administration which has ensured continuity of service for the customers and should ultimately lead to a dividend being paid to the creditors.

Portland Senior Manager Nicola Layland commented: “ It is very sad when a business that has served customers for over 40 years looks like it is going to close, fortunately this was avoided and the best was made from this situation as a result of the Director contacting us. Due to the fact that he made this decision sooner rather than later, we were able to find a buyer and salvage the viable parts of the business. It is a prime example of what can be achieved when we are contacted at an early stage.”

The purchaser is now contacting former and existing customers and hopes that the acquisition will increase the profitability of their existing company.

For more information, please contact Portland on 01489 550 440.

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