Buyer found for Preston company Lunar Caravans
A buyer has been found for a troubled Preston caravan firm.
Lunar Caravans entered administration on Tuesday, July 16 with specialist business advisors FRP Advisory appointed as administrators of the company.
Bosses blamed a combination of “severe cash flow issues” and “challenging trading conditions” for its difficulties
But the Post has discovered that a deal for the Lostock Hall-based business, which was founded in 1969, has been provisionally accepted by a currently unknown buyer.
An FRP Advisory spokesman said: "The Joint Administrators have provisionally accepted an offer for the business and assets of Lunar Caravans Ltd and hope to be able to confirm this deal in the coming days."
The business is currently in its annual planned summer shutdown period, with Joint Administrator David Acland previously saying he hoped to find a buyer before the shutdown.
And while no information has been released at this stage regarding the future of the company’s remaining 72 employees, it will come as positive news to the work force.
In late July, Lunar made 124 workers redundant having initially put 142 short-term employees on temporary leave after the business began operating at a reduced capacity with all production suspended, including the models for 2020.
Speaking at the time, Mr Acland said: “Our priority is now to ensure those affected have the support they need during this difficult time and we will be working closely with Unite [the union] and South Ribble Council to do this.”
The business was founded in 1969 in Wigan.
It then moved to Leyland before establishing its current base of operations in Lostock Hall.