On Tuesday 3 May 2016, Rob Croxen and Will Wright from KPMG were appointed joint administrators to BFP Wholesale, the bakery ingredients wholesaler based in Sevenoaks, Kent.
The company, which employs a total of 165 staff based across four sites in Sevenoaks, Highbridge, Leeds and Livingstone, had undergone a sustained period of declining revenues, which was exacerbated by the withdrawal of its credit insurance. The company subsequently ceased trading before the appointment of the joint administrators.
Upon their appointment, the administrators made a total of 74 redundancies at Highbridge and Sevenoaks. The administrators are looking at the options for all the sites which includes seeking a buyer for the business and its assets.
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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 revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 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.