Paul Flint and Brian Green from KPMG’s Restructuring team in Manchester were appointed Joint Administrators of Chorley-based Naylor & Walkden Limited on 12 July 2012.
The company operates as a building contractor in the shop-fitting, healthcare and educational sector, and last year had an approximate turnover of approx £18.3m. It is a subsidiary of Bravell Limited, the ultimate parent company being Naylor and Walkden (Holdings) Limited. The business comprises two distinct divisions: shop fitting and construction.
Immediately following appointment, the Joint Administrators successfully concluded the pre-packaged sale of the shop-fitting element of the business to a new company, Naylor & Walkden Fit-Out Limited. The sale resulted in 28 members of the 85-strong workforce being transferred to the new company.
The construction business ceased to trade upon appointment, with 57 members of staff being made redundant.
Paul Flint, associate partner at KPMG and Joint Administrator, commented: “The administration of Naylor & Walkden is symptomatic of the prolonged turbulence within the economy which unfortunately has affected both main contractors and the supply chain as a whole within the construction industry. While we are delighted to have secured a sale of the shop-fitting element of the business, we are seeking interested parties for the remaining business and assets.”
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For further information please contact:
Katy Broomhead, KPMG – 0161 246 4623 / katy.broomhead@kpmg.co.uk
About KPMG
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 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. KPMG International provides no client services.
