Cosalt

Through its association with Grimsby, Cosalt was a major player in the UK caravan market. It created the Piper brand, and after the failure of Sam Alper's Caravans International bought its brands, including: ACE, Abbey, Bessacarr, Sprite; and later the independent Cotswold brand. However, in the 1990s they began concentrating on static caravans, and sold off many of the touring caravan brand to the rival Swift Leisure. In the mid-2000s and looking to sell the Leisure business, the division was eventually sold to Leeds-based turnaround specialists Endless Fund, but collapsed into administration 12months later. After losing 240 jobs and one factory, it was bought by a management team and renamed Cosalt Custom Homes, preserving 20jobs. == Collapse ==

Cosalt had a turbulent later history. Cosalt Marine was sold to Survitec in August 2011. This was followed shortly afterwards by an unsuccessful bid by chairman David Ross to buy and delist the company. Trading in the company's shares was suspended when the deadline for producing its Annual Results and Report for year end 31 December 2011 passed in April 2012. Cosalt eventually went into administration on 15 February 2013, with a secured bank debt of £11.4M and pension deficit of almost £52M. Of the three operating divisions, Cosalt Wind Energy ceased trading and was liquidated, Cosalt Offshore was sold as a going concern to rival group ATR backed by NBGI Private Equity, and Cosalt Workwear sold as a going concern to Ross. ==References==