Asset valuation specialists Charterfields have been appointed to advise the administrators of Oakworth Joinery, the UK’s largest independent window and door manufacturer which closed last week with the loss of 170 jobs.

Oakworth, which was based in Keighley, Yorkshire, had been manufacturing in the town since 1965 and was its second largest employer. Charterfields have been appointed by the joint administrators John Russell and Chris White of The P&A Partnership.

David Smith, director of Charterfields, said: “It is sad to see the closure of a long-established firm like Oakworth and the loss of so many jobs. The task now is to co-ordinate an orderly closure and realisation of the assets, for the benefit of the creditors.”

The assets of the business include a wide range of woodworking, plant and equipment, including a state-of-the-art, recently installed paint plant, together with a wide range of stocks, consumables and product designs.

Twelve jobs have been saved at a Yorkshire packaging supplies company after a competitor stepped in to buy the business from Administrators.

Centerpac, based in Dinnington, Sheffield, has been acquired by the Samuel Grant Group, following a week-long race to find a buyer for the firm.

Centerpac, which supplies packaging materials and equipment, was forced to stop trading in December after it ran into financial difficulties.  It was placed into administration in January 2012, and joint Administrators Graham Newton and Paul Bates of accountancy and business advisory firm BDO LLP appointed surveyors and valuers Charterfields to identify potential buyers.

Ian Maycock, director of Charterfields, said: “As Centerpac had already stopped trading, we knew we only had a very short time to find a buyer before customers and staff deserted and the business simply fell apart.

“Fortunately we were able to identify a number of interested parties, including one from overseas.  Discussions were held, a buyer selected and the deal completed less than a week after the search began.  We are particularly pleased that the jobs of the 12 staff will be secured under the new ownership.”

Established in 1891, the Samuel Grant Group is the largest privately owned packaging distributor in the North, employing 80 staff and with depots in Leeds, Sheffield and Jarrow.

Twelve jobs have been saved at a Yorkshire packaging supplies company after a competitor stepped in to buy the business from Administrators.

Centerpac, based in Dinnington, Sheffield, has been acquired by the Samuel Grant Group, following a week-long race to find a buyer for the firm.

Centerpac, which supplies packaging materials and equipment, was forced to stop trading in December after it ran into financial difficulties.  It was placed into administration in January 2012, and Joint Administrators Graham Newton and Paul Bates of accountancy and business advisory firm BDO LLP appointed surveyors and valuers Charterfields to identify potential buyers. 

Ian Maycock, director of Charterfields, said: “As Centerpac had already stopped trading, we knew we only had a very short time to find a buyer before customers and staff deserted and the business simply fell apart.

“Fortunately we were able to identify a number of interested parties, including one from overseas.  Discussions were held, a buyer selected and the deal completed less than a week after the search began.  We are particularly pleased that the jobs of the 12 staff will be secured under the new ownership.”

Established in 1891, the Samuel Grant Group is the largest privately owned packaging distributor in the North, employing 80 staff and with depots in Leeds, Sheffield and Jarrow.

Chris Heaton, Finance Director of Charterfields Limited, is to swap the warm comforts of his desk for the freezing temperatures of Siberia.

Chris is in training for a full marathon across Lake Baikal in Siberia on the 3^rd March 2012.  Lake Baikal is the deepest lake in the world and holds 22% of the world’s fresh water.

Chris, who is an experienced marathon runner, is running for Target Ovarian Cancer, which concentrates on raising the ability of GPs to diagnose the disease early, and on providing practical assistance to sufferers. 

For more information from Chris’s blog and to give a donation, please click on the links below: -

www.chrisheaton.blogspot.com

www.justgiving.com/baikal 

On behalf of everybody at Charterfields Limited, we wish Chris well on his quest to raise funds for the charity.

A medical research equipment development company which helped devise an automated process for manufacturing artificial skin has gone into liquidation.

The Ideas Studio Limited, based in Kent, has closed after running into financial problems.  The liquidators, the KSA Group, have appointed asset valuation specialists Charterfields to sell its intellectual property assets.

The Ideas Studio developed an automated manufacturing process for Smart Matrix, an artificial skin product owned by the Restoration of Appearance and Function Trust (RAFT).

Smart Matrix acts like a second skin and could revolutionise the treatment of burns and ulcers. Once placed over a wound, it supports the growth of a network of functioning blood vessels.  Unlike other methods, it leads to the regrowth of the dermis, the lower layer of skin, encouraging rapid healing and allowing the treatment of more extensive wounds than ever before.

Whilst RAFT owns the rights to the Smart Matrix product, the prototype manufacturing robot, the Skin Bio Reactor, is now up for sale, together with a half share in the patent application for the automated manufacturing process.

Charterfields director Roger Cutting, who is leading the sale, said: “The potential now exists for an investor, or inventor, to purchase the rights held by The Ideas Studio and work with RAFT to continue towards the commercial automation of production.”

Also for sale is a half share in the existing UK patent for the Small Mammal System, which creates a stress-free environment for the biometric measurement of mice in scientific environments, and which was designed in cooperation with Cambridge University.  The product has been fully developed and is ready for sale, at around £250,000 per unit, to scientific institutions worldwide.

Roger Cutting added: “These could be excellent opportunities for investors, or medical technology businesses, to expand their portfolios with products that offer huge potential for growth.”

Over 80 people attended the first Insolvency Today North West Conference, which was sponsored by Charterfields.

The event, which took place on Thursday at the Midland Hotel in Manchester, brought together insolvency practitioners, banks, insurance companies, accountants, law firms and others working within the sector.

Organised by Insolvency Today magazine, the event featured debates on the impact of public sector cuts on the region, the proposed changes to pre-packs, the future of debt management plans and IVAs and the outlook for business rescues and insolvencies in 2011 and 2012.

Speakers and panelists included Jeremy Oddie, North West regional chair of R3, and deputy chair Richard Wolff, Claire Entwistle from the Insolvency Service, Manchester City Council treasurer Richard Paver, and senior figures from RBS and Barclays Corporate among others.

Charterfields’ director Ian Maycock said:  “As a key provider of services to the insolvency sector, we were delighted with the success of the inaugural North West conference which will now hopefully become an annual event.  Manchester is one of the biggest centres for insolvency work outside London and the event provides a forum for debate on some of the key issues facing the industry.”