Chris Pole and Mark Orton from KPMG’s Restructuring practice were appointed as joint administrators of Tienda Limited on 4 January 2019.
Based in Grantham, the company is an interior fit out specialist and was working on a number of live contracts at the date of the appointment.
As a result of the administration, the company has ceased taking new orders; however, it is in discussion with its customers regarding completing live contracts. Regrettably, 14 members of staff have been made redundant. The joint administrators have retained five members of staff to assist them with the administration.
Chris Pole, partner at KPMG and joint administrator 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.”
Interested parties should contact James Portwood on 0115 935 3429.
- Ends -
For media enquiries, please contact:
Katy Broomhead, Senior PR Manager
T: 0161 246 4623
M: 07824 537963
About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 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.
© 2020 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.