Prestige Aggregates Limited, a Sheffield-based independent aggregates supplier and manufacturer, is seeking a potential purchaser to buy the business and assets, after experiencing a period of challenging cash flow towards the end of 2024.
A Notice of Intention to Appoint an Administrator was filed on 10th February, with the Business Recovery and Restructuring team at Midlands-based PKF Smith Cooper supporting the business through the process.
Prestige Aggregates supplies a wide range of high quality primary and environmentally sustainable recycled aggregate products, specialising in the use of recycled aggregates from waste glass packaging to be used within the aggregate and construction sectors.
The company’s main focus in their manufacturing has been to reduce their carbon footprint, supplying end markets located within 100-mile radius of their headquarters. The company has developed working relationships with suppliers to design concrete mixes including recycled glass and concrete aggregates, with the intention to include waste plastic in the near future.
The collapse of the waste glass recycling sector between July and December last year caused Prestige Aggregates to struggle as they had expanded significantly into this market. With accumulated debt on top of failing market investments, the company’s cash flow took a hit towards the end of 2024.
The business is now seeking assistance from the PKF Smith Cooper Business Recovery and Restructuring team, to plan ahead for their future. The trading of the business is continuing whilst a purchaser is found for the business and its assets.
Dean Nelson, Head of Business Recovery and Restructuring, said: “Prestige Aggregates has unfortunately faced a challenging end to 2024, and we are now in the process of restructuring their business.
“We will be working closely with the company’s management team to assist and support them in securing the best possible future for the business, its employees, and creditors.
“If you are interested in acquiring the business and assets, please get in touch with a member of our Business Recovery and Restructuring team.”
