Buyer wanted for Thompsons
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• Receivers are looking for buyer for Thompsons Worldwide Removers, the Margate-based firm which crashed owing around .£400,000 earlier this month.
Coopers & Lybrand made 40 of the 45 staff redundant after it was called in by TWR's bank on 7 May. However, it has continued to operate the military personnel equipment removals specialist by using local hauliers. It hopes to retain the remaining business, worth almost /3m in revenue this year, until the company is sold.
The demise of the company, which operated 22 trucks and 30 trailers, is being blamed on the loss of a contract with the US air force and a restricted cashflow. Most of its remaining business is with the British armed forces.
Several firms are already believed to be interested in buying the firm, which leased the site in Kent and rented a warehouse in West Germany — this is unlikely to be included in any deal.
The previous directors have not submitted a buyout package. Former managing director Alan Smith is helping the receivers, although he is no longer an employee at the 40-year-old business.