Wed, 02 Oct 2013 | ADMINISTRATION
Parts of R and K Landscapes Ltd have been purchased out of administration, with the administrators now looking at options for another portion of its business and freehold premises.
Chris Stirland and Phil Pierce at FRP Advisory were brought in as the joint administrators to the business on 27 September after it suffered reduced trading earlier this year. Alliance Construction Solutions bought most of the underlying business on the same day, securing the positions of 43 employees.
R and K had operated a construction, maintenance, water infrastructure repair and project management business from its base in Nottingham for the past 40 years and had 105 staff.
Alliance Construction is led by Jason Gregory, John Mattinson and Andrew Wood - the former directors of R and K. It is to continue trading at the original base in Kirkby-in-Ashfield under a new rental agreement.
FRP are now exploring options for the remaining parts of the business and its staff.
Mr Stirland commented: “We are delighted to have secured the future of much of this well-known Nottingham-based construction securing 43 jobs in the process under a new company structure.
“The business had traded successfully for a number of years until a tough economic climate in recent months affected its cashflow putting unsustainable financial pressure on its previous corporate and financial structure. We wish everyone involved with the on-going business continued success.”
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Related information:
Contact the administrators
How to turn around a struggling business
View the latest businesses in administration
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