20 jobs saved with pre-pack sale of Werrens by Our Restructuring and Advisory Division

Nick Parsk and Chris Newell of our Restructuring and Advisory Division have been appointed as joint administrators of Werrens Limited (Werrens) and have confirmed the successful sale of the business and certain assets was completed on the same day to Werrens Bedford Limited.

Founded in 2017, Werrens, which operates mainly from its Bedford site, traded profitably for a number of years as an accident and repair workshop and prestige bodyshop for cars and commercial vehicles. As an approved repairer for Tesla, the business also specialises in electric models. 

Werrens ran into significant financial difficulty during the COVID-19 pandemic and subsequent lockdowns. Our Restructuring and Advisory Division was appointed in November 2021 to achieve a sale of the business and assets. 

The pre-pack sale to Werrens Bedford Limited is now complete and 20 jobs have been saved as part of the transaction.

Nick Parsk, director at Our Restructuring and Advisory Division and joint administrator, said: “The automotive industry, like many sectors, was hit hard by the pandemic and the many lockdowns enforced in 2020 and 2021. This had a substantial impact on the Company’s balance sheet and cash flow.”  

“It was clear that the best outcome for the Company, its various stakeholders including clients and employees was to attempt to achieve a sale of the business in quick order, so we are pleased to have been able to complete the sale to Werrens Bedford Limited which allows the business to continue and also retains 20 jobs as a result.”