Powerplus Engineering Limited ‘Good news week’

Chris McKay of McTear Williams & Wood was appointed liquidator of the above company on 29 June 2017. Aldermore Bank plc chose not to appoint their own administrator, despite having had an Independent Business Review carried out two years previously by another insolvency firm and entrusted us with selling the business and assets.

The company had two sides to its business one manufacturing and supplying bespoke acoustic enclosures for supply to the generator market and the other building car transporters. Having been in negotiations to sell the assets prior to our appointment we finalised the sales shortly after to two separate entities with most of the workforce being re-employed, which should see Aldermore being paid in full.

Adrian Sage
Senior Associate, McTear Williams & Wood

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