Montgomery Tomlinson Limited of Flintshire, the curtain and accessories supplier, has gone into administration with KPMG appointed as administrators. This follows a collapsed deal to sell the company.
530 redundancies have been made across its 123 department concessions Also, the salaries for August are not going to be paid.
Wright said, “Despite the tireless efforts of the directors to secure a sale of, or investment in the business over the last four weeks, it has been impossible to find a workable solution to enable the company to continue to trade and they have made the difficult decision to appoint administrators.
“As a result of an increasingly competitive marketplace, a fall in sales left Montgomery Tomlinson critically short of cash and unable to meet its liabilities.
“Given the cash position of the business, unfortunately there are insufficient funds to make payments for August salaries and we will be working as hard as possible to assist employees in their claims to the Redundancy Payments Office.”
Ok, so if you are an employee and would like to know what you are entitled to then read this page on help for employees. Effectively you will be entitled to arrears of pay, holiday pay and lieu of notice up to a maximum of £450 pw. You will also receive redundancy as per the statutory limits.