Begbies Traynor Secures Sale of Aurora Colours

Administrators from business rescue, recovery and restructuring specialists Begbies Traynor have completed the sale of print and packaging firm Aurora Colours, based in Caerphilly, Wales. The sale, to Watershed Packaging, has safeguarded 25 jobs and production continuity for existing clients.

The company appointed joint administrators David Wilson and Julian Pitts of Begbies Traynor’s Leeds office to take control of the business on 18 January 2008.

Begbies Traynor worked closely with the Aurora board of directors and Watershed Packaging in order to maximise the recovery of the firm’s creditors, ensure production turnaround for clients and preserve jobs. This allowed a sale of Aurora’s assets to be completed immediately upon the appointment of the administrators

John Waters, of Watershed Packaging, said: “Begbies Traynor has handled the administration in an extremely professional manner and I am very happy with the level of attention and detail they have provided throughout the transition.”

Julian Pitts, partner of Begbies Traynor’s Leeds office, comments: “We are delighted with the outcome of the Aurora Packaging administration. If at all possible, we always ensure that a company is affected as little as possible by an administration, such as retaining existing contracts and jobs, and in turn leading to a smooth transaction.”

Begbies Traynor is part of the Begbies Traynor Group plc, an AIM listed specialist professional services organisation, providing independent professional advice and solutions to businesses, financial institutions, the accountancy and other professions and individuals in areas of finance, recovery, investigation and risk management, specialist financial advice and commercial finance.