14 jobs lost as fit-out firm enters administration
A Lincolnshire fit-out firm has been placed into administration with the loss of 14 jobs.
Chris Pole and Mark Orton from KPMG’s restructuring practice were appointed as joint administrators of Grantham-based Tienda on 4 January 2019.
he company has ceased taking new orders and is in discussion with its customers regarding completing live contracts. Five staff have been retained to help with this.
Pole said: “The business has recently experienced short-term cash flow challenges, and was unfortunately unable to obtain any additional funding or investment to overcome these issues and allow them to continue trading.
“In the immediate term, we are undertaking a review of the live contracts to ascertain whether we are able to complete these over the coming weeks. We are also seeking buyers for the company’s assets and would invite interested parties to contact us as soon as possible.”