Begbies Traynor Group plc : Begbies Traynor sells Stagecraft assets to CPS

Begbies Traynor sells Stagecraft assets to CPS

January 30, 2012

The assets of a Porton-based sound and light staging company have been bought out of liquidation by a competitor.

Partner Julie Palmer and director Simon Campbell of corporate recovery specialists Begbies Traynor in Salisbury were appointed as liquidators of Stagecraft Technical Services Ltd on December 21, 2011. 

STS was a specialist audio visual, lighting, sound and staging company with an annual turnover of £700,000 which was generated through retail, hire and permanent installations mainly for theatrical and musical productions, trading out of Porton, Wiltshire.

The assets of the business were sold to a competitor business CPS Group, based in Christchurch.

Julie Palmer said: "We made a huge effort to find a buyer for this business as a going concern prior to appointment, however we are pleased to have ensured that STS's loyal customer base will continue to be serviced effectively by CPS, a major player in the region."

Richard Colegate of CPS said: "Stagecraft has been a well-respected name in the industry for over 30 years and CPS is delighted to pick up the torch and lead the Stagecraft brand into the next decade.

"We look forward to working with Stagecraft customers in 2012. Combining CPS' excellence in modern lighting, audio and video with Stagecraft's expertise in stage production and outdoor structures provides exciting new possibilities.

"Bringing on-board Stagecraft's expertise in stage construction and a significant stock of staging and outdoor structures means that we can provide a more comprehensive service to our existing clients too."