United Kingdom

Details

  • Service: Advisory, Transactions & Restructuring
  • Type: Press release
  • Date: 20/08/2013

KPMG appointed Administrators of Montgomery Tomlinson Limited 

 

Will Wright, Paul Flint and Brian Green of KPMG’s Restructuring team were today appointed Joint Administrators of Montgomery Tomlinson Limited, a supplier and retailer of custom made curtains and accessories.

 

On appointment of Administrators, Montgomery Tomlinson ceased to trade and a total of 530 employees across its 123 department store and retail concessions, and its factory and warehouse facility in Bretton, Flintshire (near Chester) were made redundant.

 

Employee salaries for August 2013 will not be paid due to insufficient funds. The Joint Administrators are assisting staff to make claims to the Redundancy Payments Office for the amounts owed.

 

The Joint Administrators will now begin recovering the value of the assets of Montgomery Tomlinson.

 

Will Wright, Joint Administrator and Restructuring Partner at KPMG, commented: “Despite the tireless efforts of the directors to secure a sale of, or investment in the business over the last four weeks, it has been impossible to find a workable solution to enable the company to continue to trade and they have made the difficult decision to appoint administrators.

 

“As a result of an increasingly competitive marketplace, a fall in sales left Montgomery Tomlinson critically short of cash and unable to meet its liabilities.

 

“Given the cash position of the business, unfortunately there are insufficient funds to make payments for August salaries and we will be working as hard as possible to assist employees in their claims to the Redundancy Payments Office.”

 

The Joint Administrators have set up a helpline on 0845 672 8052 for employees that have been made redundant.

 

ENDS

 

Redundancies by location:

 

UK-wide retail locations (concessions): 384

Factory in Bretton, Chester: 146

 

Notes to editors:

 

For press queries, please contact:

 

Dave Lafferty, Citypress on behalf of KPMG

0161 235 0318

dave.lafferty@citypress.co.uk

 

KPMG National Press Office: 020 7694 8773

 

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 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 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.

 
 

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