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Bell Pottinger North - Client News
Tuesday, June 13, 2006
P RUDDIMAN LIMITED - IN ADMINISTRATION

Furniture distributor and importer, P Ruddiman Limited was placed in administration on 8 June 2006.

Mike Saville and Neil Brackenbury of corporate recovery specialists, Begbies Traynor, Leeds, have been appointed joint administrators on behalf of the company.

The company which employs 20 people, was originally incorporated in 1984, and has for many years traded from premises in Huddersfield, distributing imported furniture to the independent retail and mail order markets.

The business has been sold and all of the employees have been transferred to Ruddiman Furniture Limited.

Mr Saville comments that the need of administration had arisen because of a combination of factors.  He comments: “The UK furniture market continues to be very competitive and the company was burdened by the finance taken on as a result of the management buyout in 2001.”  He went on to say that whilst it was disappointing to see any business become insolvent with the consequent losses for stakeholders it was nonetheless encouraging to see local jobs preserved as part of the solution.

Ends

Press contact:

Joanne Fletcher-Wall or Sarah Hooley at Bell Pottinger North -
01625 506425

Information on Begbies Traynor can be accessed via the Group’s website at

www.begbies-traynor.com <http://www.begbies-traynor.com>

Notes to editors:

About Begbies Traynor Group plc

The Group specializes in business insolvency management and is becoming increasingly active in the area of personal insolvency. It also offers services in corporate rescue and investigation services and has entered the field of corporate finance.

In November 2005, the Group entered the rapidly-expanding volume personal insolvency market via the acquisition of W3 Debt Solutions, a firm specializing in providing advice and practical support to individuals in debt. 


The Group has grown to its current network of 32 nationwide offices ranging from Scotland to the South West of England, with 350 operatives. The Company continues to pursue its strategy of organic development, coupled with the acquisition of specialist knowledge of both individuals and firms, to further increase its market share in its core services.


The Directors believe that the Group is the UK's largest independent insolvency, corporate rescue and recovery specialist with clients ranging from major institutions to individuals with business difficulties.

 
The Office Network

The Group operates with 60 licensed insolvency appointment takers, some 225 fee earning staff and 65 in support and administration. The Group operates from 32 locations across the UK.

Business Activities

The core business of the Group is the formal administration of insolvencies including receiverships, liquidations, administrations, company voluntary arrangements and business-related personal insolvencies. The Group has extended its activities into a range of consultancy services including corporate rescue, credit management, forensic and investigation services and corporate finance.

 

 

This feed contains news releases issued by the clients of Bell Pottinger North

www.bellpottingernorth.co.uk





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