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Insolvency Auction

BUSINESS FOR SALE

Children’s Day Care Nursery (“the Nursery”)

FOR SALE AS A GOING CONCERN

This is an opportunity to acquire a children’s day care nursery based in the East Midlands. The Nursery has been established for over 9 years, providing quality childcare and education for babies aged 0 – 12 months and children aged 1 to 12 years.

Smith Cooper (“SC”) has been engaged to assist in the sale of a Children’s Day Care Nursery, which also provides a holiday club, throughout the school holidays. The Nursery boasts a good reputation, achieving a ‘good’ Ofsted report in June 2019.

The Nursery operates from leasehold premises, under the terms of a 9-year lease, which concludes in October 2020.

The Nursery is registered by Ofsted for 69 childcare places, with an annual turnover of c.£360k.

The Nursery employs a strong and qualified team of 14 staff, who are all trained to work in the industry. The Nursery’s staff consists of a Manager, Nursery Support Officer, Full and Part Time Nursery Practitioners, Nursery Practitioner Trainee, Nursery Cook and Nursery Driver.

The owners wish to conduct a sale of either the shares, or of the business and assets (including goodwill). Whilst the lease is close to expiration, we are informed that the landlord is open to renegotiating the lease terms with a prospective purchaser, for the occupancy of the premises going forward.

To protect the Nursery’s goodwill, it is proposed that any sale will need to be agreed and moved to completion as a matter of urgency, and as such, this opportunity is only likely to be available for a short period of time.

Following receipt of expressions of interest, and a signed Non-Disclosure Agreement, brief sales particulars will be provided via a data room. Offers for the purchase of the shares or business and/or its assets as a going concern, by way of sealed bids, needs to be sent to Smith Cooper by 12 noon on 22 July 2020, together with evidence of funding/funding in principle, in writing, from a lender.

When submitting your offer, please provide contact details of your solicitors and evidence of funding to expedite matters.

If you are interested in pursuing this opportunity further please contact one of the following for additional information:

Dean Nelson
+44 (0)1332 332021
dean.nelson@smithcooper.co.uk

Andrew Stevens
+44 (0)1332 332021
andrew.stevens@smithcooper.co.uk