Everything we know about Preston company Lunar Caravans entering administration
Here is everything we know so far.
What has happened?
Specialist business advisory firm FRP Advisory was appointed Joint Administrators of Lunar Caravans Limited, based in Lostock Hall, on Tuesday (July 16).
Why has it happened?
A spokesman from FRP Advisory said the company has faced "severe cash flow issues" in recent months following a period of "challenging trading conditions".
Have their been job losses?
142 short-term employees were placed on temporary leave in late June.
There are 196 employees in total.
It continues to trade and there have been no redundancies at this point.
Is the business still open?
In short, yes.
But all production, including the 2020 models, was suspended prior to the administration process.
What happens now?
The administrators are looking to sell the company.
Partner Dave Acland from FRP Advisory said: "Lunar Caravans is a renowned manufacturer of lightweight touring caravans and over the past 50 years has established a reputation for innovative designs and cost-effective models that have become hugely sought after among UK holidaymakers, enjoying an enviable market position and strong brand."
Interested buyers are told to contact FRP Advisory on 0161 833 3344.
How was the company performing in the years before the administration process?
In November 2016, Lunar Caravans celebrated a hat-trick of award wins at the Caravan Design Awards, run by The Caravan Club.
It won them for Best Caravan priced from £17,000 to £20,000; £20,000 to £24,000; and £28,000 to £34,000.
In March 2017, the business reported record sales of £9.5m at the Caravan, Camping and Motorhome Show at the Birmingham NEC.
Orders were 14.5 per cent up February 2016’s event, making it the fourth consecutive year the manufacturer has beaten its previous show performance.