Fourteen workers made redundant at Grantham interior fitting firm
A Grantham company has gone into administration and 14 workers made redundant.
Administrators have been appointed to Tienda Ltd, based on Tollemache Road South, off Spittlegate Level. Tienda is a fitting out specialist with expertise in interior design, project management, joinery and contracting. It was formed more than 20 years ago.
Chris Pole and Mark Orton, from KPMG’s Restructuring practice, were appointed as joint administrators on January 4. The company was working on a number of live contracts at the date of the appointment.
As a result of the administration, the company is no longer taking new orders, but it is in discussion with its customers regarding completing contracts. While 14 members of staff have been made redundant, the joint administrators have kept on five members of staff to assist them with the administration.
Mr Pole said: “The business has recently experienced short-term cash flow challenges, and was unfortunately unable to obtain any additional funding or investment to overcome these issues and allow them to continue trading.
“In the immediate term, we are undertaking a review of the live contracts to ascertain whether we are able to complete these over the coming weeks. We are also seeking buyers for the company’s assets and would invite interested parties to contact us as soon as possible.”
Anybody interested in buying assets should contact James Portwood on 0115 935 3429.