KPMG closes Portland Conservatories
KPMG has announced the closure of Manchester's Portland Conservatories, with the loss of 68 jobs.
KPMG has announced the closure of Manchester's Portland Conservatories, with the loss of 68 jobs.
Link: Business recovery stories
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.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article