Wed, 07 Oct 2015 | ADMINISTRATION
A refurbishing company based in Stockport has entered administration after struggling with a sharp drop in trading conditions.
FT Finley worked with a number of local authorities and housing associations on refits and repairs for their housing stock.
However, the company had been faced with financial difficulties and severe cashflow pressure. After the withdrawal of interest by a potential purchaser last month, the directors were forced to call in the administrators.
David Thornhill and Russell Cash, partners with FRP Advisory, have been appointed administrators now and unfortunately concluded that the firm wouldn't be able to continue trading.
Mr Thornhill commented: “The closure of Finleys is a sad day for this long-established business, its hard-working loyal workforce and the wider Stockport economy.
“The social housing repair and maintenance market has been challenging for some time and Finleys regrettably is the latest firm to feel the squeeze.”
He added that the administrators will now be marketing for sale the remaining assets and focusing on delivering in the best interests of all creditors.
FT Finley was officially founded in 1976 and has focused its work on contracts for housing associations and providing refurbishments and maintenance contracts. The company has also delivered more niche services including eco-technologies, damp-proofing, asphalting and asbestos removal.
Contact the administrators
View more businesses in administration.
Dentistry offering four finely equipped surgeries currently under-utilised, meaning there is massive growth potential for you and a chance to grow your profits with a small outlay indicating a rapid ROI.
LEASEHOLD
Presenting a mixed dental practice offering 60% National Health Services, and 40% private which is growing rapidly.
FREEHOLD
South Milton Keynes based Orthodentic surgery with 600,000 turnover on the market for sale due to retirement of the principal.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.