Directors for Breyer Team have showed they’re exploring a sale of portions of the industry a number of the choices for the 69 year-old corporate.
The Essex-based company, which specialises in roofing, restore, and refurbishment products and services, formally appointed Glen Carter and Damian Webb of RSM UK Restructuring Advisory as directors on Wednesday (1 April).
Breyer has been hit via a “collection of monetary difficulties and money waft constraints on account of sure contracts”, a observation issued via RSM UK mentioned.
This ended in “vital power from collectors”, the directors mentioned.
RSM is “exploring all choices, together with a possible sale of sure portions of the industry”, it added.
Romford-based Breyer operates around the South and South-East of England and its shoppers come with councils, housing associations and main landlords.
The crowd has noticed a lot of vital departures of overdue, together with the go out of its managing director Daren Moseley on the finish of 2024.
The crowd’s finance director, Jessica McCarthy, additionally left ultimate 12 months after lower than six months within the function.
In its ultimate filed accounts at Corporations Area, masking the 12 months to the top of Would possibly 2023, Breyer reported a pre-tax benefit of £637,084 on turnover of just about £83m. This equated to a pre-tax benefit margin of 0.8%.
It reported having 254 personnel, with a salary invoice of £12.7m.
In February, Breyer used to be appointed as some of the contractors on a £660m retrofit and decarbonisation framework for public sector paintings.
The company gave up as stadium naming sponsor at Leyton Orient Soccer Membership in 2022 after 4 years backing the League One staff.
The corporate used to be firstly based as an asphalt roofing contractor via Fred Breyer in 1956.
It’s nonetheless family-owned with Tim Breyer as its leader government and majority shareholder.
He has run the company for 30 years since taking on from his fathers in step with Breyer’s site.
