Administrators of Samuel Cooke & Co Wind Up Sale of Key Assets
The administrators of Samuel Cooke & Co, Paul Flint and Brian Green from KPMG’s Restructuring practice, 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.”