Suffolk: Plumbing firm based in Rendlesham faces liquidation
A SUFFOLK plumbing and heating firm faces liquidation after 50 years of trading unless managers can strike a deal with prospective buyers.
A winding-up meeting between shareholders and creditors of Saunders Plumbing and Heating Ltd is set to take place next week.
Business advisors said that until then, the company based at Bentwaters Park, Rendlesham, will continue to trade on a limited basis, “seeing out contracts where possible”.
Managers are currently in discussion with prospective purchasers for the company, which until last week traded under the GAH group of companies.
Up to 15 jobs could be lost if a resolution for the winding up of the company is passed next Tuesday, at a meeting convened by insolvency firm Baker Tilly in Bury St Edmunds – the outcome of which may include liquidating the company’s assets.
Steven Law, restructuring and recovery partner at Baker Tilly, said: “The management are in discussion with a potential purchaser and hopefully there will be good news by the end of this week.
“Our role at the moment is to advise the company and convene the meeting of creditors. The company is utilising staff and, where not possible, subcontractors to complete outstanding works.
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“Regrettably, the workforce has been made redundant but it is hoped at least some employment can be recovered if a purchaser is found.”
Saunders Plumbing and Heating was founded in 1962, carrying out domestic and contract boiler servicing and maintenance in Suffolk, North Essex and the Norfolk border.
The company was based in Peasenhall before moving to Bentwaters Park.