DMH Stallard is delighted to have worked on a successful deal to enable a high profile Kent business to continue trading.
The pre-pack deal that saw the business of Margolis Business Systems (MBS) saved as a going concern was concluded by BM Advisory following their appointment as administrators with the assistance of DMH Stallard.
The deal secures employment for all 11 of the staff formerly employed by MBS.
Tim Symes, Partner at DMH Stallard, who leads the Restructuring and Insolvency Team, said:
“Having facilitated the swift appointment of the administrators and then carried out all of the legal work to achieve a sale of the business under significant time pressure, it is incredibly heartening to see a business live to ‘fight again’ and ensure 11 people still have their jobs.”
Based in Orpington, Kent, MBS was placed in administration on 20 June 2017. The new company was set up by MBS’ managing director and shareholder, Richard Shaw.
Richard Shaw, Managing Director of Margolis Group Limited, said:
“After a successful management and board restructure to reflect the current and future plans of the company, we are pleased to announce that Margolis Group is in a position to expand our operation to a wider audience in the UK and across Europe.”