Wilkins Kennedy Corporate Recovery save jobs at Denmans
Issued by Wilkins Kennedy
25 April 2008
Administrators save jobs at Denmans
The Business Recovery and Insolvency team at Wilkins Kennedy, UK Top 30 firm of chartered accountants, has successfully saved the jobs of 187 employees at the troubled Reigate based Denmans Facilities Maintenance Ltd, which yesterday went into administration.
The High Court appointed Keith Stevens, Head of Business Recovery at Wilkins Kennedy and John Kirkpatrick, Partner, as joint administrators of Denmans Facilities Maintenance Ltd. on 23 April 2008. The team at Wilkins Kennedy successfully negotiated the sale of the business and its assets to Project First Facilities Maintenance Ltd on 23 April 2008.
Keith Stevens comments “following the administration of the Denman Group Ltd. on 1 April 2008, our team have been working closely with Denmans Facility Maintenance to protect the position of this business, its employees and customer base. We are delighted for both staff and future customers that we were able to conclude the sale of Denman Facilities Maintenance Ltd. in what is a particularly difficult economic climate for the refrigeration industry.”
John Kirkpatrick adds “our approach is to always try and save a business where feasible. From the outset our turnaround experts saw the potential within the company and were determined to try and salvage as much of business as possible. The company has a good offering and we are thrilled that the buyer, Project First Facilities also recognised this potential and helped to secure the employment of Denman’s staff.”
Commenting on the purchase, Mark Stratford, Managing Director of Project First says “the purchase of Denmans Facilities Maintenance will strengthen our offering to customers and is made all the more rewarding because we were able to secure the future of Denmans’ employees. The team at Wilkins Kennedy helped to ensure that this was an appealing transaction and were vital in ensuring all parties' interests were equally considered thus ensuring a successful and timely outcome. We are confident that our business will go from strength to strength and that our customers can expect our high standards to continue well into the future.”
Any enquiries relating to the administration of Denmans Facilities Maintenance Ltd or the sale to Project First Facilities Maintenance Ltd should be directed to Keith Stevens or John Kirkpatrick at the details below.
Keith Stevens
T: 01784 435 561
E: keith.stevens@wilkinskennedy.com
John Kirkpatrick
T: 01189 512 131
E: john.kirkpatrick@wilkinskenneedy.com
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Press enquiries
Please direct all press enquiries to Keith Stevens.
Notes to the editor
* Wilkins Kennedy Business Recovery and Insolvency is part of Wilkins Kennedy the Top 30 UK firm of chartered accountants. The firm has a long established and experienced Business Recovery and Insolvency team who provide a comprehensive range of corporate and personal recovery and insolvency services. Our principle aim is to secure the survival of all viable businesses. Where this is not possible, we seek to find the best solution for those facing liquidation. We have the experience in managing large complex assignments but can equally provide cost effective services to sole traders and individuals.
