North Wales based Cambrian Park and Leisure Homes Ltd has been sold out of administration to Porthmadog holiday company, Cambrian and Sovereign Holding Group Ltd.
The new company was set up by owners of the Coventry based company Sovereign Park and Leisure Homes in an attempt to preserve the brand and protect the jobs of staff at the luxury holiday homes and lodges manufacturer.
FRP Advisory acted as the administrators for the company and worked on an accelerated sales process in early February, which led to competing offers for the business and assets.
Our asset advisory and recovery team provided initial asset valuation advice to FRP Advisory as part of the sales process and helped provide our recommendations to the administrators based on our understanding of asset value.
Mark Lord, partner in our machinery and business assets team, commented, “Any case involving an accelerated sales process tends to be more interesting, due to the shorter time frames and this example was no different. We are pleased that by working alongside FRP Advisory we have helped secure a future for the North Wales based business and wish them the best of luck moving forward.”