Sale confirmed as Preston's Lunar Caravans is saved from administration
One of Preston's historic businesses has been saved from administration.
Lostock Hall-based Lunar Caravans entered administration on Tuesday, July 16 with specialist business advisors FRP Advisory appointed as administrators of the company.
There were worries surrounding the future of the 50-year-old business, but today (August 15) administrators David Acland and Lila Thomas from FRP Advisory announced that the company was sold to Lunar Automotive Limited on Wednesday (August 14).
Nicholas Marks, Managing Director of Lunar Automotive, said: "We are delighted to have acquired Lunar, we look forward to working with the team, suppliers and customers as we build on this well respected brand."
Lunar Automotive is a new company which has been established to facilitate the purchase of lunar caravans.
According to Endole, the business was incorporated on August 1 and is based in London.
The Post can also confirm that all remaining employees, which the adminnistrators say is "around 60", will transfer across to the new business.
Commenting on the deal, David Acland said: "We are delighted to have achieved a sale of the business to Lunar Automotive Limited and we wish them success in the future.
"Lunar is a well-established manufacturer and given this is their 50th anniversary year, the sale has even greater significance.
"We would like to thank the staff and management of Lunar who have worked hard with us over the last few weeks.
"It has been tough at times but their professionalism and positive attitude has contributed to this result.
"We would also like to acknowledge the support of key stakeholders involved within the business, in particular South Ribble Council and the Unite Union."
Lunar Caravans entered administration on July 16 following severe cash flow issues in recent months.
"The transaction sees the rescue of this well-known national brand and key part of the Preston business community," an FRP Advisory spokesman said.
"The purchase amount is not being disclosed at this time."
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.
The Government was also called on to intervene, with Nigel Evans, MP for the Ribble Valley – which includes Lostock Hall – vowing to take the case to the Government to help with any potential sale of the business.
Speaking after the sale of the business, Mr Evans said: “The takeover of Lunar Caravans really is the best-case scenario given the circumstances, it safeguards dozens of jobs while ensuring the company continues to manufacture outstanding caravans and motor homes.
"This is hugely important deal for the constituency and all those involved with Lunar and I look forward to hearing their plans for a bright future."
It early July, Lunar took to social media to quash rumours that it was closing down.
Responding to a Twitter user asking if there was any truth in “rumours that you have closed down” a spokesman replied with: “No, they are just rumours.”