More than 70 jobs have been preserved at Accordial Group Holdings after their trading companies Accordial Wall Systems Ltd and Accordial Manufacturing Ltd were placed into administration. The Hertfordshire and Leicestershire based company, which manufactures and installs bespoke walls and partitions systems, was experiencing severe financial difficulties before a corporate rescue process essentially rescued the company from the brink of collapse.

A notice to appoint administrators was recently filed and following talks with prospective purchasers, a sale of the company’s business and assets was achieved in early December 2016. PCR Insolvency practitioners Mark Phillips and Julie Swan, partners at the insolvency firm, were appointed as joint administrators by the board of directors and conducted the sale. This achieved the continuation of the business and safeguarded the staff at sites in Hertfordshire and Leicestershire.

Mark Phillips of PCR said “We are delighted that we have been able to help retain the continued employment of staff following our appointments, as well as providing the best positive outcome for its creditors”.

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Ahmed Ali
Practice Development Executive

Notes to Editors: For further information please contact Hermes Financial PR Ltd, who are handling media enquiries on behalf of PCR Insolvency: Trevor Phillips This email address is being protected from spambots. You need JavaScript enabled to view it. 07889 153 628

PCR is a trading name of PCR (London) LLP and PCR (Newcastle) Ltd and PCR (Bristol) LLP and PCR (Milton Keynes) LLP Insolvency Practitioners acting as administrators contract as agents of the company in administration and without personal liability

Members of the London LLP: Mark Phillips, Julie Swan, Sonny Cohen

Members of the Bristol LLP: Mark Phillips, Julie Swan, Sam Talby, PCR (London) LLP

M R Phillips - J A Swan – S Cohen –S Talby are licensed to act as insolvency practitioners in the UK by The Institute of Chartered Accountants in England and Wales

www.PCRllp.co.uk
www.PCRadvisory.co.uk

 

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