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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