United Kingdom

Details

  • Service: Advisory, Transactions & Restructuring, Restructuring
  • Type: Press release
  • Date: 02/08/2012

Administrators of Samuel Cooke & Co conclude successful sale of key assets 

Thursday 2nd August 2012

The administrators of Samuel Cooke & Co, Paul Flint and Brian Green from KPMG’s Restructuring practice, have announced that they have sold some of the key assets of the company to Cooke Fuels & Lubricants Ltd, a newly-formed subsidiary of Crown Oil.


Burnley-based Samuel Cooke & Co, an independent distributor of fuels and lubricants to the residential and commercial markets, went into administration on 23rd July 2012.

Paul Flint, associate partner at KPMG and Joint Administrator, commented: “Following a large amount of interest expressed in the assets of the business, we are delighted to have concluded the swift sale of the customer list and intellectual property to Cooke Fuels & Lubricants, particularly as the deal ensures that there has been minimum disruption to the supply of services to Samuel Cooke’s customers.”


Paul Flint continued: “We continue to seek buyers for the remaining assets of Samuel Cooke & Co Limited, including the company’s property and vehicle fleet, while we conduct a wind-down of the business.”


-Ends-


Notes to editor


Samuel Cooke & Co and its sister company, Company Fuel Cards Limited were placed into administration on 23rd July 2012.


Shortly following their appointment, the administrators completed a sale of the customer list of Company Fuel Cards Limited to Direct Fuels Limited. 

For further information please contact:


Katy Broomhead, KPMG – 0161 246 4623 / katy.broomhead@kpmg.co.uk

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff.  The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

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