Howard Smith Kpmg China

Administrators appointed to Cardinal Shopfitting and Systems

The Bradford-based company is an interiors manufacturer largely supplying into the retail sector, with clients including major high street chains, alongside a residential property offering.

The business is unable to continue trading given a collapse in its order book, following the impact of COVID-19 driving change and uncertainty in the retail sector post-lockdown.

Regrettably, this means 135 of the 170 staff - approximately half of whom were on furlough - were made redundant following the appointment of the administrators. The remaining 35 will assist the administrators in the short term to complete work in progress.

Howard Smith, Joint Administrator and Associate Partner at KPMG, said:

"Cardinal is a victim of the retail sector at large conducting a strategic reassessment of the needs of its store estate following the COVID-19 lockdown. Without plans to invest in their high street presence until 2021 at the earliest, Cardinal’s client base were unable to provide the necessary certainty over future contracts to enable it to continue trading.

"We have employment specialists liaising with the workforce to support them through the redundancy process."

-Ends-

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KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 17,600 partners and staff. The UK firm recorded a revenue of £ 2.40 billion in the year ended September 30, 2019. KPMG is a global network of professional firms providing Audit, Tax, Legal and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.