The firm has had mixed success as administrative receivers to the BHD Group, of which Portland is a subsidiary. It had previously secured the future of its Aqualux subsidiary, which makes showers, by selling it to a management buy-out team.
Mark Orton, KPMG corporate recovery partner and joint administrative receiver, confirmed on Friday that no similar rescue had been possible for Portland.
‘As we have been unable to find a purchaser for the Portland Conservatories business as a going concern, we have unfortunately had to take the decision to close down the business and make staff redundant,’ he said.
Orton and fellow administrative receivers Myles Halley and Richard Fleming are focusing on the remaining companies in the group, which operate in the home improvement sector.
Houseproud, a division of Portland Conservatories Limited (in administrative receivership), continues to trade as normal.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children