United Kingdom

Details

  • Service: Advisory
  • Type: Press release
  • Date: 07/09/2012

Norfolk Capacitors Limited (Great Yarmouth) - UPDATE 

Chris Pole joint administrator to Norfolk Capacitors Limited, has today confirmed that redundancies have been made at the business, which went into administration last week.

 

Since their appointment, the Joint Administrators have been trying to secure the commitment of the company’s customers to support ongoing trade. However, the loss of a major contract, has led to 46 staff being made redundant today, leaving a workforce of 37 across the two sites at Great Yarmouth and Gorleston .

 

Commenting on the latest developments, Mr Pole said: We have spent several days trying to secure agreements with customers to continue doing business with Norfolk Capacitors Limited. Whilst the response from the company’s longstanding customers has been positive, the loss of a recently won key contract has led to the decision to down size the business to a level appropriate to service the remaining order book."

 

“We are disappointed that we have had to make redundancies, but there is now an opportunity for the business to re-focus on its historically profitable core operation. We will continue to trade in the short term with the remaining staff, as we look for a buyer for the business.”

 

The company, was the UK’s largest designer and manufacturer of specialist power capacitors and had 106 employees. 

 

Any interested parties should contact Tim Bateson on 0115 935 3498.

 

For media enquiries, please contact:

 

Emma Murray, PR manager at KPMG: 07920 870 623

emma.murray@kpmg.co.uk

 

KPMG 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 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.

 

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