Partners at CVR Global have been appointed liquidators of Dowding & Plummer Ltd, a Birmingham-based manufacturer of industrial flooring cleaning machines.
Partners at the insolvency firm Craig Povey and Kevin Murphy were appointed liquidators on 2 February, and all members of staff at the company were made redundant. Dowding & Plummer had suffered a period of loss making, and its Birmingham premises had been sold in January this year.
CVR Global has sold the company’s remaining assets to Barnborough Ltd.
Povey said: “At its peak Dowding & Plummer had a turnover of around £11m and employed 130 people.
“Unfortunately the business experienced loss making over a number of years and subsequently faced severe financial difficulties in recent years.
“Despite reducing employee numbers the business had suffered a large sales downturn from 2015 and subsequently resulted in us being called in.
“The sale of its property in Stockfield Road was concluded in the best interest of creditors earlier this year, but despite the sale the company was unable to move forward as a going concern and the company was formally wound up and all staff made redundant.”
CVR Global was formed in 2015 following the management buyout of the business recovery division of Chantrey Vellacott. The firm has recently appointed an associate director to it senior team.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'