Thu, 20 Dec 2012 | ADMINISTRATION
Joinery firm Swift Horsman has brought in administrators from PwC after hitting difficult times.
The business, which makes and installs high quality pre-fabricated washrooms for businesses, has two bases in the UK; one near Ware, Hertfordshire and another in Dalbeatie, near Dumfries in Scotland.
PwC placed the company into administration on Monday (17 December) after failing to find a buyer for the firm.
Karen Dukes, joint administrator and partner with PwC, commented: “The company has suffered as a result of cost overruns on recent projects, impacted by the difficulties in the construction sector.
“The directors have been attempting to sell the business, but no buyer could be confirmed and they had no option but to place the company into administration.”
She added that all employees, of which there are over 200, have been made redundant “immediately” while work is done to seek out a sale of the business and its assets.
According to reports from the Construction Enquirer, delays and disputes around payments for contractors were the primary cause of the firm's collapse.
The joinery group has a turnover in the region of £40 million.
The company is renowned for its unique, high-quality products, with its continued commitment to designing and manufacturing products to an exceptionally high standard ensuring that it stands apart from competitors and is firmly established as a leadi...
A CQC-accredited, family-owned healthcare provider offering medical, aesthetic, physiotherapy, and diagnostic services in London. With lucrative NHS contracts, including occupational health and international recruitment, and a sponsor licence, the bu...
LEASEHOLD
The company offers all-encompassing building engineering and support solutions, undertaking installations, planned preventative maintenance, and remedial and emergency works for heating, ventilation, electrical systems, plumbing, air conditioning and...
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.