Bespoke furniture maker in administration
KPMG has been appointed to handle the administration of furniture manufacturer Godfrey Syrett Ltd, which has collapsed due to difficult trading conditions with the loss of over 200 jobs
14 Jan 2019
The company designs, manufactures and installs high quality furniture solutions for the education, healthcare, defence and corporate sectors from three sites in Killingworth (North Tyneside), Langley Moor (Durham) and Belmont (Durham).
The business, which employed 204 staff, has ceased trading while the administrators review the position and pursue opportunities to sell the business. The majority of staff have been made redundant, with eleven members of staff retained while the administrators assess the position of the business.
James Lumb, Howard Smith and David Costley-Wood of KPMG have been appointed to oversee the administration. Lumb, a director at KPMG, said: ‘Challenging trading conditions in the bespoke furniture sector, coupled with severe cashflow difficulties, have proved unsustainable for the business and led to the administration.’
Report by Pat Sweet