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30 Sep 2014 02:25pm

KPMG appointed Caip administrators

Big Four firm KPMG has been appointed as administrators of technical engineering business Caip Limited

Following the appointment of Paul Flint and Brian Green – both from KPMG’s Manchester restructuring practice – Caip ceased trading and announced the redundancies of 110 employees.

Caip, which had provided services to the telecoms, renewable energy, and construction sectors, will now also close its HQ premises in Daresbury, near Warrington, as well as smaller properties in Northampton, Lymington and Didcot.

A small number of staff – just seven in total - has been retained to assist the administrators as the process of winding down the business begins.

Flint, an associate partner at KPMG, said, “The company has experienced a number of delays on contracts with key customers which has had a significant impact on its cash flow which has contributed to its failure.”

Oliver Griffin

 

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