MHA MacIntyre Hudson appointed administrators for Kingswood Construction
Adrian Dante and Mick Sanders of MHA MacIntyre Hudson have been appointed as Joint Administrators for Kingswood Construction (London) Limited (‘Kingswood’). The top 20 accountancy firm were instructed by the Board to assist in placing Kingswood into Administration. Notice of appointment of an administrator was filed in Court by the Director Peter Howe on 1 May 2015 effecting the appointment.
Kingswood held the highest and most privileged honour by receiving the Royal Warrant as suppliers of construction works and carried out building and renovation works on places of worship, palaces, grade listed and other unique buildings. Kingswood was one of approximately 800 Royal Warrant holders who are united by their commitment to the highest standards of service, quality and excellence.
Although Kingswood was established over 20 years ago, the nature of the construction industry and increased competition meant that the business was no longer viable.
Adrian Dante, Director of MHA MacIntyre Hudson, and Licensed Insolvency Practitioner said:
“The Board made contact to seek advice in respect of the current financial position of the business and its viability for the future. The decision to place Kingswood into Administration was not taken lightly by the Board. We will continue to work with the Board to maximise the asset realisations whilst minimising the disruption to any existing value in Kingswood’s goodwill and its client relationships.”
Director, Peter Howe said:
”I would like to thank all Kingswood's staff, subcontractors and suppliers for their good service over many years that enabled the company to deliver its projects to a good standard that generally gave a high level of satisfaction to our clients".