Retail chain calls in KPMG
North East of England business suffers from poor trading
Administrators from KPMG have been
called in to retail chain Geo. A. Williams & Son Limited by the company’s
directors.
Mark Firmin and Howard Smith of KPMG restructuring were appointed as joint
administrators by the company’s directors on 2 March 2007.
The Stockton-on-Tees based business
has 13 outlets throughout the UK, predominantly in the North East and Yorkshire,
and has 79 employees.
Despite its long history, the company recently lost money on an internet
venture and experienced poor trading on the high street.
Mark Firmin, KPMG partner and joint administrator said: ‘All stores have
closed and employees have been sent home while we establish an accurate picture
of the current situation. This review will be completed as quickly as possible
to minimise uncertainty for the business’ staff, customers and other
stakeholders.
‘We are keen to speak with any parties interested in buying the business as a
going concern.’