Portland stone supplier in administration and up for sale

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.

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