Fri, 27 Apr 2012 | ADMINISTRATION
Administrators have been called in to organise the affairs of the Pritchard Group, it has been revealed.
Fred Pritchard, property tycoon at the head of the firm, opted for retirement when David Crawshaw, Robert Croxen and Richard Philpott from KPMG came in. However, the administrators will continue to run the firm and the 95 staff employed by the firm are thought to be carrying on with their jobs.
Charles Tippet, the group's chief executive, clarified that it is “business as usual” at Pritchard and described the administration as a “technical procedure” to change the control at the top following acquisition of the group's debts.
Mr Pritchard told the Express and Star that his retirement was a lifestyle decision: “I will be able to do more of the golfing, fishing and shooting I enjoy and have not had a chance to do over the last two years due to the pressure of work.”
The business has worked on the redevelopment of Cannock, Stafford, Hednesford and Rugeley, improving the local area since the demise of the mining industry. Among its major projects are the Ramada Hotel and the High Green Court shopping centre in Cannonck.
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