J H Maunders

All Jobs Secured After Sale of Decorating Business J H Maunders

J H Maunders are a provider of building and decorating services to local housing associations. The company experienced mounting HMRC debt, creditor pressure and an uncertain order book, and entered into a Company Voluntary Arrangement (CVA) in September 2014.

After the firm experienced further difficulties and failed to meet the obligations of its CVA, it appointed SFP’s joint-administrators Simon Plant and Daniel Plant on 29th June 2016.

SFP organised valuation agents to market the business. This resulted in a Sale and Purchase agreement with one of the interested parties on 1st July 2016. All of J H Maunders’ employees were transferred over to the purchaser via the TUPE process.

“This is the best result for the firm, its contracted employees, and the wider sub-contracted network,” says Simon. “We were able to quickly find a buyer and organise the sale within two days, ensuring the impact on trading and employees was kept to a minimum.”

“This is a prime example of how seeking expert help to turn a business around is vital. The responsible actions of the firm’s directors not only secured the future of its own employees, but also supports the future of a group of between ten and fifteen sub-contractors with whom they regularly work.”

“Their communication and support throughout the whole process was outstanding, I would recommend their services should a business find itself in difficulty.”

Five Times Winner
Best Business Recovery Specialist

“I found working with the team at SFP easy and professional. They told me what was going to happen, when and how it would be managed; then they did their job.”

“Excellent Service. Introduced our company to other companies that has helped move our business forward.”

Six Times Winner
Best Asset Based Finance Broker