Date Published: 14th January 2020
Ian McCulloch and Chris Lawton of Begbies Traynor were appointed as joint administrators of Stone Edge Midlands Limited on 6 January 2020. The Company ceased to trade with immediate effect and 35 employees, based across its two trading premises at Tamworth and Skipton, have been made redundant.
The Company operated as a building restoration and conservation company, completing renovation work on listed buildings and similar traditional properties.
The administrators are assessing the work in progress and contracts of the business, in conjunction with an instructed quantity surveyor, in order to establish the recovery prospects for creditors.
Joint administrator Ian McCulloch of Begbies Traynor, commented:
“Due to the specialist nature of its work and the high skill level of the employee base, Stone Edge Midlands had a significant fixed costs base and as a result was unable to recover from a reduction in trade during 2019.”
Having entered a career in insolvency straight from University, Ian has been part of Begbies Traynor Group since 2006. He initially worked in the personal insolvency team before moving to the corporate team at Preston in 2008. He qualified as an IP in 2010 and has dealt with a number of appointments in the North West area.