Long-established motorcycle aftermarket fastener specialist Pro-Bolt went into administration on 20 January, at the behest of directors Ian Giles, Kevin Harker and Louisa Bailey — who changed her surname from Harker last year. Pro-Bolt is now in the hands of joint administrators Richard Hunt and Simon Plant, from London-based insolvency practitioner SFP Restructuring, and a pre-pack transfer of assets arrangement is already in place.
A new company, ProBolt Fasteners Ltd, was incorporated on 9 December, 2019. The directors are Stuart and Jayne Bailey, with equal shareholdings that make them both “persons with significant control”. The SFP-appointed joint administrators registered a charge against ProBolt Fasteners, on behalf of Pro-Bolt Ltd (in Administration), on 31 January. This relates to deferred payment for acquisition of the Pro-Bolt business, which has continued to trade throughout these proceedings via its retail online presence www.pro-bolt.com. The website now credits ownership to ProBolt Fasteners.