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Liquidation for pipe business

Date Added: 08/07/2013  

A pipe company that carried out work for firms such as Cadbury is going into liquidation.

Pipework Solutions & Installations, which was based in Mells near Frome in Somerset, was founded in 2001 and had a turnover of around £3 million a year.

But it recently went through financial difficulties as a result of Cadbury reducing the amount of work it needed from the firm after it was bought out by US firm Kraft Foods.

According to a report by Insider Media, Tim Ball of Mazars has been appointed liquidator for the company and all of its members of staff have been told their jobs are being lost.

"A major customer was Cadbury - now owned by Mondelez - and Pipework Solutions & Installations Ltd helped the group establish factories around the world, including in Eastern Europe and Africa," he said, adding: "The company hit problems due to reduced levels of work from Cadbury after its takeover in 2010 by Kraft Foods and losses incurred on replacement work taken on for major construction contractors."

Many firms that carry out work for Cadbury could be forced to seek company debt advice to avoid being served with a winding up order if their orders are being cut in a bid to make savings.

It was revealed by the liquidator that even during its most successful period, no more than 15 members of staff were employed by Pipework Solutions & Installations.

Jobs have also been lost this month at East Anglia-based wind turbine manufacturer Windcrop after it was confirmed the company has been placed into liquidation. Founder John Moore revealed that the former EDP Future50 business could not secure the funding it needed to ensure it has a future.

Speaking to the Eastern Daily Press, he explained a finance deal had been set up that would have saved jobs at the firm, but this later fell through, leaving no other options apart from liquidation.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

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