Simon Farr and Anthony Collier of specialist business advisory firm FRP Advisory have been appointed as joint administrators of Multiwood Products Limited. The family-run business has produced kitchen doors and accessories for customers across the UK for over 30 years, operating from their manufacturing facility based in the North West of England. According to FRP Advisotry, tompany has been placed into administration due to 'difficult trading conditions which created cash flow challenges'.
Multiwood employed a workforce of 35 employees and has now ceased to trade. The administrators are supporting redundant employees with applications to the redundancy payments service.
Simon Farr, partner at FRP Advisory and joint administrator of Multiwood Products, said: “Multiwood Products has been a trusted supplier in the sector for 3 decades. Unfortunately, due to the challenging trading conditions prevalent in the industry, most notably a downturn in demand, the business has been unable to meet its financial obligations and has therefore ceased operations. Our focus now is on supporting the affected employees with their claims to the Redundancy Payments Service and winding down the affairs of the business.”
Any parties interested in purchasing excess stock or material should contact Oliver.Oakes@FRPadvisory.com.
