The well-established company based on the Meltham Mills Industrial Estate near Holmfirth specialised in project joinery manufacturing solutions to a wide and varied customer base, such as recently completing the supply of bars to a chain of pubs in the North of England.
The decision to close the company was a direct result of a large main contractor disputing a significant debt.
Despite continued support from their funder ABN AMRO, the company was unable to trade through the consequence of the dispute and the directors decided it was necessary to appoint administrators following an intensive wind down period to finish remaining key projects to avoid letting customers down and to maximise asset realisations.
The company had 18 employees who were all made redundant on 11 July 2016 and their claims are being dealt with by the Redundancy Payments Service.
Keith Marshall, RSM restructuring partner and one of the joint administrators, said:
‘It is sad when a well-established business, known for excellent customer service and quality joinery services, has had to close down due to being unable to survive the knock on effects of a significant disputed debt.
‘The hard work of the directors and the employees ahead of administration is appreciated and should see a better return to stakeholders. It is, however, encouraging to have already received numerous enquiries for the assets of the business in whole, which if sold quickly for fair value, may result in new jobs being created this summer.’