Down & Francis Industrial Products Limited (00706828): administration
- Status
- Administration ended
- Administration began
- 2013-04-02
- Administrators
- William James Wright, Mark Jeremy Orton
- Administrators' firm
- KPMG
- Formerly
- Priory Shutter and Door Company Limited (The)
- Incorporated
- 1961-10-31
- Location
- Birmingham
- Industry
- 74990 Non-trading company
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Pension deficit
- Parent or group failure
- Regulatory change or action
From the administrators' statement
Prior to KPMG’s involvement, the Group had experienced challenging trading conditions for some time and has undergone continued restructuring since 2007 This included the disposal or closure of certain loss making and non-core businesses taking the Group from twenty three business units to six at the date of the Administration
In this time the level of Bank lending decreased from £22 million to £8 8 million, with Group turnover reducing from £100 million in the year to 31 December 2005 to £409 million per the draft accounts for the year ending 31 December 2012 (excluding £12 6 million turnover from George Wilkinson International, which had been designated as
KPMG LLP [ 16 May 2013
Administrators' statement of proposals (2013-05-28) · Companies House register