Steve Absolom and Nick Holloway from Interpath Advisory had been appointed joint administrators of Hitchcock & King Enterprises Puny on 31st July 2024.
Shopping and selling as Hitchcock & King for additional than 50 years, it is a famed builders and trees carrier provider working from six web sites across London in Ashford, Burgh Heath, Fulham, Hammersmith, Streatham and Twickenham.
Liquidators had been appointed to Hitchcock & King Puny in September 2020 and March 2023.
Interpath Advisory said that the corporate had faced animated shopping and selling stipulations in newest times, including the impact of rising costs and decreasing margins. Over newest months, the administrators had sought to search out ideas, including a sale of the business, nonetheless a solvent solution became once unable to be found. The directors due to this fact took the choice to take into legend the appointment of administrators.
.gif)
The joint administrators will proceed to interchange the business for a instant length true to promote final stock and in discovering other ideas for the broader business. They’ve retained 37 workers to help them in shopping and selling nonetheless 27 had been made redundant.
Steve Absolom, managing director at Interpath Advisory and joint administrator, said: “Even as Hitchcock & King will stay birth for business in the instant timeframe to obvious through the shares of creating affords, there’s absolute self belief that this is an extraordinarily unhappy day for this long-working family business and its team of arduous-working, true workers.
“We can offering toughen to all these impacted by redundancy, including supporting them in making claims to the Redundancy Funds Service.”
Hitchcock & King Enterprises Puny turned over £13m in 2023, down from £16m in 2022.
Got a myth? Electronic mail news@theconstructionindex.co.uk
