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Tuesday, 11 October 2011

Holloway White Allom in Administration

Holloway White Allom, the London fit out specialist, has been placed in administration with the loss of 225 jobs.  The firm was established in 1882 and was associated with high-end residential and commercial refurbishments.  At its peak the firm had an annual turnover of £90m

In February this year private equity company Privet Capital injected cash into the business for a majority stake holding.

According to reports the reasons for the failure have been that a couple of projects hit higher than expected costs.  However, in the last 2 years turnover has reportedly fallen to £60m and there has been an uneasy relationship with the firms new backers.

Administrators from KPMG are handling the company's affairs.

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