Will Wright and Mark Orton of KPMG’s Restructuring practice have been appointed joint administrators to Arden Precision Limited on 19 December 2013. The Solihull based company established in 1980 specialises in a wide range of precision engineering services and fabricated metal products.
No redundancies have been made to the workforce of 43 people.
Commenting on the appointment Will Wright said: “Arden Precision Limited is a well established company which, following significant capital investment for expansion of the business, ran into cash flow problems. It is our intention to continue to trade the business while we look for a buyer, and we have been encouraged by the number of interested parties who have contacted us so far. We would hope to achieve a positive outcome for what is a respected business.”
James Portwood, 0115 935 3429
Nahidur Rahman, KPMG Press Office
020 7694 8812 (t), 0788191 6975 (m) or email@example.com
KPMG Press Office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.