FRP Advisory appointed to Baris Group

Chris Stirland, Phil Armstrong and Nathan Jones of FRP Advisory have been appointed as joint administrators to Baris Group Ltd and its two operating subsidiaries, Baris Facades and Linings Ltd and Quality In Components (QIC).

The move follows a sharp deterioration in recent trading conditions at the companies, which provide specialised components for the building industry.

The administrators have announced that all 97 staff at Baris Facades and Linings Ltd have been made redundant as no buyer has been found for this part of the business. There have also been some job losses among the 57 employees at QIC. Baris Group is a group holding company with no employees.

Chris Stirland, joint administrator to Baris and partner at FRP Advisory, said: 'We have retained a core team of staff at QIC to enable it to continue to trade. We have received expressions of interest in QIC's business and assets and we are progressing this interest. We will now seek to establish whether it will be possible to sell the business and assets of QIC as a going concern.'

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

View profile and articles

0
Be the first to vote

Rate this article

Related Articles
Subscribe