Chorley building firm closes

ADMINISTRATORS appointed to Chorley-based building contractor Naylor & Walkden have completed a deal to save its shopfitting arm, but its core construction business has closed with the loss of 57 jobs.

Paul Flint and Brian Green from KPMG’s restructuring team in Manchester were appointed as joint administrators of the £18.3m-turnover firm last Friday.

Although the construction business ceased to trade on appointment, a “pre-pack” deal for the business and assets of its shopfitting operations was concluded by a newly-created company, Naylor & Walkden Fit-Out Ltd. The sale meant 28 members of the 85 staff at the company have been transferred to the new venture.

Mr Flint said: “The administration of Naylor & Walkden is symptomatic of the prolonged turbulence within the economy which unfortunately has affected both main contractors and the supply chain as a whole within the construction industry.

“While we are delighted to have secured a sale of the shop-fitting element of the business, we are seeking interested parties for the remaining business and assets.”