Pre-pack deal saves jobs at kitchen manufacturer
More than 30 jobs have been saved at a Bradford kitchen manufacturer Karmik.
The company, which was founded in 2013, suffered two bad debts in 2016 totalling almost £100,000. This led to “severe” cash flow problems and HMRC arrears.
Joint administrators Kelly Burton and Lisa Hogg of insolvency and business turnaround specialist Wilson Field were appointed to Karmik on 13 March.
Karmik, which traded as Designer Factory Kitchens, was acquired by Karmik UK in a pre-pack deal, with the existing management team continuing on.... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
