Parker Norfolk and Partners Limited (02619479): administration
- Status
- Administration ended
- Administration began
- 2021-11-08
- Administrators
- David Robert Acland, Anthony Collier
- Administrators' firm
- FRP Advisory
- Formerly
- Somerville Parker Limited
- Incorporated
- 1991-06-12
- Location
- Manchester
- Industry
- 65120 Non-life insurance
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Weather / natural events
From the administrators' statement
The Company was incorporated in 1991 and was an established insurance broker business with a Lloyd’s of London licence. The business was acquired in 2017 by the current management team with a track record of growth, both organically and via acquisition. Postacquisition the strategy was for a build out of specialist multi-line brokerage focused on B2B and with 5 principal broking disciplines:
Financial & Specialty Risks (commenced May 18)
Trade Credit (commenced June 18)
Administrators' statement of proposals (2021-11-24) · Companies House register