Paul Flint and Brian Green from KPMG’s Restructuring practice in Manchester have been appointed joint administrators to Caip Limited, a technical engineering business which provides services to the telecoms, renewable energy and construction sectors.
Following the appointment of the joint administrators, the business ceased trading and a total of 110 employees were made redundant. A small number of staff have been retained temporarily to assist the joint administrators with the managed wind down of the business.
Paul Flint, associate partner at KPMG and joint administrator, said: “The company has experienced a number of delays on contracts with key customers which has had a significant impact on its cash flow which has contributed to its failure.”
Asset sale queries should be directed to Dominic Castle – 0161 246 4168
Employee queries should be directed to Tracey Wilkinson of Insol Employee Solutions - 0121 333 1295
Creditor queries should be directed to Tom Johnson - 0161 246 4102
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