W A Hills Limited falls into administration

W A Hills Limited falls into administration, with appointment of FRP Advisory
 
March 7, 2011 - PRLog -- W A Hills Limited, the building and joinery business based in Essex, was placed into administration on 14 February 2011, following cash flow difficulties arising from contractual disputes, delays in receipt of debtor monies, and adverse trading conditions.
Jeremy French and Glyn Mummery, partners at FRP Advisory LLP, the national specialist restructuring, recovery and insolvency firm with offices in Hornchurch, Essex, were appointed Joint Administrators.
Glyn provided the following comment: "Unfortunately, it was not viable to trade on the business due to a lack of existing contracts and, more critically, an absence of sufficient funding compounded by existing debtors not settling outstanding and overdue accounts. Regrettably, we therefore had to close the business immediately and make 20 staff redundant.
"Our strategy now is to focus upon the best means for maximizing realisations of the Company’s assets."

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FRP Advisory LLP offers a comprehensive suite of restructuring, recovery and insolvency services to the mid-market and financial community. FRP Advisory is focused on enhancing the performance of businesses, as well as saving businesses in distress.
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Source:FRP Advisory
Email:***@frpadvisory.com Email Verified
Phone:020 3005 4297
Zip:EC4A 1YH
Tags:Restructuring, Recovery, Insolvency, Asset finance, Commercial Finance, Transition, FRPAdvisory
Industry:Business, Finance, Construction
Location:London City - London, Greater - England
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