Peter BaberSee other News articles filed in ‘General’ written by Peter Baber
Collapsed Lunar Caravans has been bought out of administration by a South African engineering group which says it wants to continue "business as usual" at the Preston manufacturer, including relaunching its delayed 2020 season caravans.
Lunar, which went into administration in July due to cashflow problems, has been bought by Lunar Automotive, a company specially formed to acquire the company which is part of MEWA, a South African based specialist engineering group founded by Cecil Marks in the early part of the last century.
Nicholas Marks, the founder's grandson, who is currently Lunar Automotive's sole director, said: "We have acquired a very experienced caravan manufacturing team whose expertise was instrumental in our decision to invest in the business. The MEWA group has been involved in specialist engineering and component manufacture for 100 years and this experience bodes well for Lunar to not only celebrate its 50th anniversary but to look forward to the next 50 years."
He said all existing orders were being fulfilled, while, through working with wholesale finance partner DF Capital, the company has managed to retain all bar two of its old dealer network of around 50 dealers.
Lee Roberts, sales director of the old Lunar, will continue to head sales for Lunar Automotive.
Following two rounds of redundancies while the company was in administration, the workforce Lunar Automotive has acquired at acquisition numbers 85. However, Mr Marks said that, with production of the new 2020 season due to start in September, the company was likely to start recruiting again soon, including people who have only recently been laid off.