Howard Smith and Mark Firmin from KPMG’s restructuring team were appointed Joint Administrators to Jarose Woodworking Ltd on 31st January 2014.
Initially, the administrators continued to operate the business to complete outstanding work in progress. However, operations have now ceased and all of its employees have been made redundant.
The company had been in business for more than 35 years and had several leading blue chip retailers among its customers.
Joint administrator Howard Smith, a restructuring associate partner at KPMG, said: “Declining sales at Jarose Woodworking Ltd significantly impacted cash flow and the business’ ability to meet its liabilities. The joint administrators are exploring options to realise the best results for the company’s creditors.
“We have assisted the affected employees in their claims to the redundancy payments office.”
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