Administrators of Wisbech-based Swiftwood Imports Ltd have chosen a preferred bidder for the assets of the company.
Joint administrator Ian Carr of Grant Thornton told TTJ that he could not reveal the name of the bidder but hoped to be able to make an announcement in two to three weeks once discussions are concluded.
“We are continuing to negotiate a sale of the assets,” he added.
An advert placed in the Financial Times attracted several interested parties in Swiftwood, which called in administrators in August after being unable to control losses.
The company’s transport business Kingham Transport Ltd has already been closed, with eight drivers laid off.
The main business employs 27 staff and has a mill and about £500,000 worth of stock.
Swiftwood, the subject of a mangement buyout in 2005, is continuing to trade normally while a sale is negotiated.
