Will Wright, Paul Flint and Brian Green of KPMG's Restructuring team were today appointed Joint Administrators of Montgomery Tomlinson Limited, a supplier and retailer of custom made curtains and accessories.
Will Wright, Paul Flint and Brian Green of KPMG’s Restructuring team were today appointed Joint Administrators of Montgomery Tomlinson Limited, a supplier and retailer of custom made curtains and accessories.
On appointment of Administrators, Montgomery Tomlinson ceased to trade and a total of 530 employees across its 123 department store and retail concessions, and its factory and warehouse facility in Bretton, Flintshire (near Chester) were made redundant.
Employee salaries for August 2013 will not be paid due to insufficient funds. The Joint Administrators are assisting staff to make claims to the Redundancy Payments Office for the amounts owed.
The Joint Administrators will now begin recovering the value of the assets of Montgomery Tomlinson.
Will Wright, Joint Administrator and Restructuring Partner at KPMG, commented:
“Despite the tireless efforts of the directors to secure a sale of, or investment in the business over the last four weeks, it has been impossible to find a workable solution to enable the company to continue to trade and they have made the difficult decision to appoint administrators."
“As a result of an increasingly competitive marketplace, a fall in sales left Montgomery Tomlinson critically short of cash and unable to meet its liabilities."
“Given the cash position of the business, unfortunately there are insufficient funds to make payments for August salaries and we will be working as hard as possible to assist employees in their claims to the Redundancy Payments Office. The Joint Administrators have set up a helpline on 0845 672 8052 for employees that have been made redundant."
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Redundancies by location:
UK-wide retail locations (concessions): 384
Factory in Bretton, Chester: 146
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