Mon, 13 Feb 2012 | ADMINISTRATION
The assets of Stuarts Industrial Flooring Limited could be put up for sale, after the company fell into administration.
While administrators from Mark Orton and Andy McGill from KPMG are looking to wind down the business, its assets could prove attractive to similar businesses. Stuarts had been the country’s largest in-situ concrete flooring specialist and had been trading since 1840.
The administrators immediately made 102 workers redundant from the company when they were appointed, keeping on six staff to aid with the winding down process.
Mr Orton said that the company had been in a difficult position for some time and simply could not cope with the level of losses it was making or the funds needed to keep it trading.
“While this business has been historically profitable, the downturn in the construction industry has seen it generating significant trading losses over recent years,” he said. “In the current challenging economic conditions the business has no commercially viable future in its current form and as a result, we have taken the difficult decision to wind the business down with immediate effect.”
The company, which was based in Tamworth, Staffordshire, had a turnover of some £40 million and at its peak accounted for around a quarter of the country’s in-situ concrete flooring market.
An exceptional opportunity has arisen to acquire a highly profitable and well-established off-licence and convenience store in a prominent location. With a strong retail trade and additional wholesale revenue, this business presents a lucrative inves...
FREEHOLD
The business specialises in providing a range of plastic and metal engineering solutions, including rapid prototyping, injection moulding, CNC machining, metal casting, and fabrication.
Presently seeking parties interested in the business and assets of a company that trades as a designer and installer of bespoke external rooms, including offices, and annexes.
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.