Overview:
Exigen Group completed the sale of BH Precision Limited, a West-Sussex-based high precision machining, fabrication, welding, and engineering services business. All 14 employees’ positions were retained. The company, incorporated in July 2016, operated from Burgess Hill premises and serviced sectors including oil and gas, telecommunications, automotive, construction, and audio industries.
Financial Challenges:
The loss of a major client in 2018 reduced turnover by nearly a quarter, and further losses occurred due to COVID-19. While a CVA was maintained until January 2021, the company ultimately became unviable. David Kemp and Richard Hunt of Exigen Group were appointed Joint Administrators on 8 June 2021.
Administrator Comments:
David Kemp said:
“The difficulties encountered by BH Precision are far from uncommon, especially in small businesses, where the loss of a major client can be catastrophic, catalysed by reduced trading as a result of COVID-19. We are extremely pleased to have been able to achieve a sale of the business and safeguard valuable jobs within the area in this climate. Our advice to any business experiencing severe financial difficulty is to seek specialist guidance early, to protect jobs, regional expertise and maximise the position for creditors.”
Outcome:
Exigen Group’s structured Administration approach highlights the importance of early professional guidance in securing employment, retaining expertise, and maximising value for stakeholders.