Thu, 11 Nov 2010 | ADMINISTRATION
Wolverhampton-based kitchen maker Chamois Furnishings has fallen into administration after failing to secure a buyer.
The firm, which is located in Showell Road, Bushbury, provided ecologically-friendly kitchens to local councils and housing associations. Despite having the support of well-known environmentalist David Bellamy, the business was unable to sustain itself following the spending cuts, which hit public sector housing work hard.
Turnover dropped below £3 million and the company was finally forced to admit defeat, after months of fending off rumours of trouble.
Andrew Jones-Dutt, Chamois founder and CEO, denied that his firm was in trouble in October of this year, saying, "Chamois continues to trade on. We are not going into administration. I do not know where these rumours are coming from."
However, since then, Bob Young and Steve Currie, from Begbies Traynor, Stoke-on-Trent, have been appointed as joint administrators. All 57 jobs at the company have been lost and the goodwill and customer list has already been sold on to a rival unnamed firm.
Young said, "It was a good business. With its green credentials, it ticked all the boxes. But its market disappeared.
"New build work from housing associations has mostly dried up and though it was winning refurbishment contracts that too has seen cutbacks. It is a classic victim of today's tough economic times," he added.
Serving blue-chip data management and security technology clients across the globe, this disruptive software development company provides tools and services to assess, repair, and recover, and migrate enterprise backup products.
Operating internationally, the company delivers tailored electrical distribution and control solutions to public and private sector clients across a wide range of industries.
This substantial 43-bedroom urban hotel, situated just 5 miles from Newcastle city centre, offers an exceptional investment opportunity with its prime trading location and extensive public areas, including a popular bar and refurbished function room.
FREEHOLD
13
|
Aug
|
Activ8 Energies acquires UK solar company LCE | BUSINESS SALE
Irish solar panel provider Activ8 Energies has acquired Low ...
13
|
Aug
|
Inveraray hotel acquired out of administration in £3m deal | COMMERCIAL PROPERTY
The George Hotel, a 24-bedroom boutique hotel in Inveraray, ...
13
|
Aug
|
Pole Star Global acquires maritime risk intelligence firm | BUSINESS SALE
Maritime intelligence solutions provider Pole Star Global ha...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.