Derbyshire stone firm entered administration owing £8m

A Matlock stone merchant owed creditors nearly £8m when it went into administration in June, according to documents seen by TheBusinessDesk.com.

Pisani, which operates from three sites across the UK, with its head office in Feltham (Middlesex) and sites in Matlock and Oldmeldrum (near Aberdeen), appointed administrations from Deloitte after it ran into cash flow difficulties and a winding up petition from HMRC.

In June, administrators said they were looking to close the Matlock and Oldmeldrum sites and sell the Feltham head office as a going concern. They planned to trade the business in the short term, retaining 33 out of 46 staff.

However, last month, Aberdeen-based quarrying and construction materials group Leiths (Scotland) bought Pisani’s Oldmeldrum site which traded under the name Fyfe Glenrock.

Documents show Pisani owed around £550,000 to HMRC when it entered administration.

The firm was established in 1938.