Harris Lipman News

Specialist Furniture Maker In Administration

02/03/2010

Harris Lipman has been appointed as administrators at a Bridgend-based furniture manufacturer, which has worked on projects as diverse as the Welsh Assembly Building, the Millennium Stadium and Cardiff Airport.

Keith Evans Contract Furnishers Ltd specialises in manufacturing and fitting bespoke interiors for hotels, bars and restaurants and has worked on contracts throughout the UK and Europe.

It numbers among its clients some of the biggest companies in the hotel and leisure industry, including Marriot, Hilton, Wetherspoons, KFC and Pizza Hut.

It has been trading since 1959, but has recently suffered a drop-off in business with no significant orders over the eight-week period which led to the administrators being called in on 22 February.

A notice of intention to appoint Administrators was issued by the company directors on 12 February and around 48 employees were also made redundant on that date.

Harris Lipman partners John Cullen and Freddy Khalastchi have been appointed as joint administrators and will be considering offers for the business assets from any interested parties.

Mr Cullen said: “The company received a few queries from potential customers towards the end, but these were for orders six months down the line, and the company just did not have the cash flow to survive in the meantime.

“As a result, the directors took the swift decision to take insolvency advice before any significant creditor pressure. I am hopeful that we will be able to find a buyer for the business assets over the coming weeks.”

For more information please call 029 2049 5444.

 

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