Suffolk plumbing company faces liquidation

Posted 20/06/2012

Jobs are going to be lost in Suffolk as a result of the liquidation of a plumbing company.A meeting of creditors of Saunders Plumbing and Heating has been scheduled for next week, where the future of the organisation will be decided, reports the East Anglian Daily Times.Steven Law, restructuring and recovery partner at Baker Tilly, stated talks are ongoing with a potential new owner for the business, adding there may be some good news in the coming days.”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,” he said.However, he noted the members of staff have already been informed they are being made redundant, although some employees may be welcomed back if a buyer can be secured.The company was founded 50 years ago and offered services such as heating installations and boiler services.Luke Hibbert, an insolvency specialist at Ashtons Legal, adds: “Any business which is facing difficulties should seek advice at a very early stage as this improves the chance of a positive outcome.”Posted by Luke Hibbert