Thu, 23 Sep 2010 | ADMINISTRATION
Major Portland stone supplier Stone Firms Ltd has entered administration having been critically affected by a fall in revenue in recent years.
The business, based on the Isle of Portland, near Weymouth, Dorset, is one of the last stone suppliers of its kind. Its presence dates back to before the firm was created in 1897 as The Bath & Portland Stone Firms Ltd.
Stone Firms, which operates three quarries and a mason factory, provides the world-renowned Portland stone to the construction and masonry sectors. Its stone has been used in the creation of several monuments in Britain.
Most of the 59 employees lost their jobs when KPMG was brought in. The administrators are aiming for the business to be purchased as a going concern.
Ian Corfield of KPMG commented: “Stone Firms Limited has a long and successful history of producing the world-famous Portland stone, which has been used to build so many great monuments in the UK.”
Its fall in sales in the recent economic downturn - which badly hit the construction industry - led to cash flow problems and demanding creditors, resulting in the directors' decision to take the business into administration.
Stone Firms has injected over £2 million in state-of-the-art technology at the quarry and factory over the past few years.
This established company, with a loyal client base and a solid management team, is positioned for growth through proactive marketing strategies and boasts a strong project pipeline.
This company offers a unique opportunity in the precision machining and assembly sector, boasting strong relationships with blue-chip clients across various industries, including electric vehicles and aerospace. Its experienced team and state-of-the-...
This business, with a strong reputation and quality certifications, offers an attractive opportunity for industry players seeking to expand their client base and service offerings in the environmental and flood protection sector. Offered for sale to...
|
08
|
|
May
|
West Midlands IT firm acquired by US group | BUSINESS SALE
CSI Limited, a West Midlands-based provider of mission criti...
|
08
|
|
May
|
Drainage and civil engineering firm acquired by environmental services group | BUSINESS SALE
Glanville Environmental, a South West-headquartered drainage...
|
07
|
|
May
|
PE-backed accountancy completes 12th acquisition in three years | DIVISION SALE
Private equity-backed accountancy and professional services ...
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.