Business description

Advent Business Sales are pleased to offer for sale this well established knitting company that has been trading for 23 years.

Retirement has now presented an opportunity to acquire a profitable business which is currently producing a benefit of £107,000 per annum.

The going concern is a specialist knitter of single and double jersey fabrics. It has a large variety of machines enabling a diverse range of fabrics and hence customer base.

The two directors have decided to retire but are prepared to conduct a structured hand over period if necessary, subject to negotiation. The directors work 4 days each and have been reducing both their roles and the business over the last 18 months.

The company maintains its margins with specialist small runs especially for sports wear and school wear fabrics, which are uneconomical from importers and abroad.

The directors inform us that fabrics for the medical sector, especially within the anti bacterial side with new silver yarns is a growing and rapidly developing area for which our clients have the facility.

The knitting plant consists of the following machines:
• 1 x Morat monotronic jacquard machine (18 gauge x 36 feeds)
• 5 x 9RJ mechanical jacquard machines (18 gauge x 36 feeds)
• 4 c MSJ mechanical mini jacquard machines (18 gauge x 36 feeds)
• 3 x Myer Inovit (22 gauge x 48 feeds)
• 3 x MSJ 72 mini jacquard machines (28 gauge x 72 feeds)
• 1 x monarch fixed track plain (18 gauge x 72 feeds)
• 1 x Camber velknit towling machine (18 gauge x 36 feeds)
• 2 x Monarch single jersey 26” diameter (18 gauge x 36 feeds) mechanical stripper
• 1 x flat bed trim machine (10 gauge)
• 1 x Calator Greige examination machine
• 1 x open width examination machine
• 1 x fork lift truck (gas
• 1 x hydrovane air compressor
The Myor Inovits are used for gusset fabric such as tights fabric and print base fabrics for furniture covers.

The 9RJ’s and MSJ’s (18GG) are used to produce fabrics for fashion wear and school wear. They are also used for sampling and traditional jacquards.

The MSJ 72 interlock machine (Ponti de roma) is used to produce school wear fabrics.

The Camber Velknit is used to produce fabrics for bedding and wheelchair covers.

The Monarch single jersey (26” diameter) produces fabric for rugby and polo shirts both plain and striped.

The flat bed 10 gauge produces fabrics for collars and cuffs.

The following vehicles are owned by the company and are available if needed:
1 x Vauxhall Brava van R reg
1 x Volvo V40 1.9 sport reg 03
1 x Mondaeo estate reg 04

The asking price consists of £300,000 goodwill and a machinery value of £38,000. At completion all debtors and creditors will be satisfied. Vehicles are available separately.

REF: 9197LE

Property information

Property:

Leasehold

Lease terms:

TENURE: Leasehold
Original lease: 1 year renewable
Remaining lease: 1 year
Review every: 1 year
Rent: £28,847 P.A.

We are advised that the annual business rates are currently: included in rent

Location:

Our client is located within South Leicestershire on a small industrial site.

Premises details:

A 6,000 sq ft industrial unit all on the ground floor.

Other information

Trading hours:

2 shifts –
6.00am – 2.00pm and
2.00pm – 10.00pm

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