Potential Buyer Found for Bankrupt UK Retreader

Accountancy and business advisory firm PKF, administrators for Melton Mowbray based Falcon Retreads, is reportedly close to finding a buyer for the tyre retreader. Falcon Retreads was placed into administration on May 2, and had a debt of approximately half a million pounds at that time.

According to a PKF representative, the prospective purchaser, who will not be named until the deal is finalised, intends to maintain Falcon Retreads’ ten current workers and also hire additional employees. The retreader has been in business since 1975 and was one of seven companies included in Marangoni’s RingNet upon its UK inauguration in 2005.