Bespoke kitchen worktop manufacturer J Rotherham Masonry has been placed into administration.
Howard Smith and David Costley-Wood from KPMG were appointed joint administrators on February 3 and are actively seeking a buyer for the business.
In a statement issued by KPMG, the family-owned business – which was established in 1927 and has been run by the same family for four generations – had been experiencing “cash flow issues” and sought to appoint administrators after its was “unable to meet its financial obligations”.
According to the administrators, 205 employees have been made redundant at the company’s offices and manufacturing facility in Holme-on-Spalding Moor.
Twenty-five back-office and production staff have been retained to support the administration process and complete existing orders as it seeks to find a buyer for the business and its assets.
Howard Smith, joint administrator and associate partner at KPMG, said: “J Rotherham has been delivering high-quality stone masonry for more than four generations and has consistently invested in its manufacturing processes throughout its history.
“While rising cost pressures and challenging trading conditions have led to the difficult decision of appointing administrators, it remains highly regarded by its peers and customers. As such, we are actively discussing the future of the business with a number of interested parties and hope to secure a positive outcome that will maintain the business in the area.”
J Rotherham was founded in 1927 by Henry Rotherham. In 1973, he partnered with his son Joe and together they began to expand the business.
In 2015, Matt Rotherham was appointed as the new managing director, becoming the fourth generation of the family to fill the role.
kbbreview has contacted J Rotherham for its comments.