Paul Dumbell and David Costley-Wood from KPMG’s Restructuring practice were appointed joint administrators to Anaco Systems Limited on 27 July 2018.
Based in Birkenhead and employing 34 people, the company designs, manufactures and installs aluminium glazed building facades.
Paul Dumbell, director at KPMG and joint administrator, said: “The Company had experienced declining gross profit margins and issues with historic customer account settlement delays. The situation was further exacerbated by recent unexpected delays in material interim account payments. This in turn had a significant impact on cash flow and the Company’s ability to continue to trade.
“After searching unsuccessfully for a buyer of the business, the directors took the difficult decision to appoint the joint administrators. In the absence of a going concern buyer coming forward, we will now commence an orderly wind down of the business.”
Immediately following the appointment of the joint administrators, operations on site ceased, and 32 members of staff have been made redundant. The joint administrators have retained a skeleton staff on site to assist with the wind down process.
Any parties who may be interested in acquiring the business and/or its assets are advised to contact John Noon or Emma Hill on 0161 246 6450.
For further information please contact:
Katy Broomhead, Corporate Communications
Tel: 0161 246 4623 / 07824 537963
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people 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.