News: Jobs saved as Rotherham pallet firm steps in
Rotherham-based Green Grp Pallet Network Limited has bought rival haulage company T.J. Cooper Transport out of administration.
The Dronfield firm avoided liquidation when Green Grp purchased the assets and retained all of the company's 16 employees.
The deal, for an undisclosed amount, also saw Green Grp secure a licence for their existing premises at Hellaby.
Matt Cluer, insolvency administrator at Wilson Field, said: "By working with T.J. Cooper we quickly identified that GRP Pallet Network Ltd would be interested in purchasing the company through a pre-packed administration. This enabled them to retain 100 per cent of the employees and incorporate T.J. Cooper into the current company.
"We also advised GRP Pallet Network Ltd on keeping the existing premises which has seen the company take on a pallet division by picking up the order book and an additional storage facility.
"In recent years Green GRP has generated greater profit margins after securing cheaper prices for bulk fuel than T.J. Cooper have. Therefore, the new management team is confident they can continue to be successful under the extended business operation."
TJ Cooper website
Images: TJ Cooper
The Dronfield firm avoided liquidation when Green Grp purchased the assets and retained all of the company's 16 employees.
The deal, for an undisclosed amount, also saw Green Grp secure a licence for their existing premises at Hellaby.
Matt Cluer, insolvency administrator at Wilson Field, said: "By working with T.J. Cooper we quickly identified that GRP Pallet Network Ltd would be interested in purchasing the company through a pre-packed administration. This enabled them to retain 100 per cent of the employees and incorporate T.J. Cooper into the current company.
"We also advised GRP Pallet Network Ltd on keeping the existing premises which has seen the company take on a pallet division by picking up the order book and an additional storage facility.
"In recent years Green GRP has generated greater profit margins after securing cheaper prices for bulk fuel than T.J. Cooper have. Therefore, the new management team is confident they can continue to be successful under the extended business operation."
TJ Cooper website
Images: TJ Cooper
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