Jonny Marston, Joint Administrator and Restructuring Partner at KPMG, comments on the appointment to Dewsbury-based bed and mattress manufacturer.
Joint Administrators from KPMG have been appointed to Dewsbury-based bed and mattress manufacturer Kozee Sleep Beds Limited and its subsidiaries, Restus Beds Limited and Hick Lane Bedding Limited, in addition to a property investment company within the group, Hick Lane Properties Limited.
The companies ceased trading shortly after the appointment of Jonny Marston and Howard Smith of KPMG’s Restructuring practice on Tuesday 19th May 2015. While the Joint Administrators assess the business’ position and consider its options for the future, its 180 employees have been put on notice of potential redundancy and sent home from work.
Jonny Marston, Joint Administrator and Restructuring Partner at KPMG, said: “Our first priority upon appointment is to assess the company’s financial position and operations with a view to informing our next steps in fulfilling our statutory duties, trying to secure continued employment wherever possible and maximising the realisations available to creditors.”
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Katy Broomhead, KPMG Corporate Communications
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 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.