Will Wright and Paul Flint from KPMG were yesterday appointed joint administrators to PCS Brands Ltd, a manufacturing business which makes metal bake ware, cookware and wine racks together with the distribution of cutlery under the Viners brand.
The business, which employs around 300 staff, operates from a number of production facilities in the UK located in the West Midlands, Lancashire, Norfolk and Yorkshire and has its head office is in Acton, London. The business also operates a retail division via 30 outlets in the UK, and one in the Netherlands.
Administrators are hoping to find a buyer for the business and have retained a skeleton workforce at the various production and warehousing facilities whilst stock levels are realised. Unfortunately 104 staff have been made redundant upon appointment of administrators.
Paul Flint, partner at KPMG and joint administrator, said: “Unfortunately the PCS Brands Ltd has experienced significant trading difficulties for a while and has been unable to sustain the business resulting in our appointment as administrators.
“The business has a number of retail and wholesale outlets across the UK and we are very keen to hear from anyone who may be interested in purchasing all or part of the business and its stock. We have retained staff to help us fulfil current orders and support customers during this time, but have unfortunately had to make some redundancies across the business. We would encourage any interested parties to contact the joint administrators as soon as possible."
Redundancies are as follows:
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Emma Murray, KPMG Corporate Communications
T: 0207 694 6506
KPMG Press Office: +44 (0) 207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.