The company, which employs 25 staff, was formed in 2005 when the business and
assets were acquired from the administrators of the predecessor company.
The company suffered financial difficulties when its largest customer moved
its business in-house and the second largest customer put its new product line
out to tender.
‘The company has a reputation for quality, flexibility and service and it is
due to the loss of its two largest customers that is has been forced into
administration. Management tried hard throughout 2006 to replace the lost custom
and although they had some successes, it has not been possible to generate
sufficient repeat business to replace that lost,’ said Martin.
The administrators intend to sell the business as a going concern.
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