We were appointed by administrators Duff & Phelps to value and dispose of assets, including inventory and property. WT Burdens Group, established in 1929, was a national supplier of industrial building materials to the utilities sector, with 35 branches across the UK. Following a challenging trading period, competitive pressures and a slow economy, administrators were instructed in November 2012. Elements of the trading business had already been sold, so our role was the provision of funding and services to facilitate on-going trading, allowing the administrator time to identify potential buyers. We implemented a funding line of £2.5 million within days and visited each location to assess the amount and value of remaining assets, including inventory, machinery & equipment and property. We also assisted with negotiations in the sale of 8 depots and managed a structured closure and disposition process for another 4 depots. Our team managed the valuation and sale of several freehold and leasehold properties, while providing funding and advice on the trading activities of Burdens’ many subsidiary companies. The transaction was carried out over a short period and our local knowledge and expertise provided accuracy and certainty of value and outcome.
Delivered quick and effective asset valuation, funding and disposition services to maximise returns for creditors.