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ROC Furniture Limited enters Administration

28 April 2011

ROC Furniture Ltd, the residential and office furniture manufacturer and supplier based in Birmingham, went into administration on 26 April with the appointment of Steve Stokes and Phil Armstrong, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm, as Joint Administrators.

Commenting on the case, Steve Stokes said: "ROC Furniture employed 74 staff at its site in Birmingham; very sadly we have had to make 54 members of staff redundant immediately, due to severe cashflow difficulties. The business has seen a sharp decline in orders, in particular from government bodies, which have very quickly rendered revenue insufficient to cover the company's cost base. 

"In order to protect the underlying value of the company, we have had to restructure the business to enable it to continue to trade. We intend to trade the scaled down firm as a going concern while we endeavour to find a buyer."

Steve Stokes concludes: "The underlying business is sound – it has been trading for more than 60 years and has, unfortunately, been caught in the aftermath of the spending cuts."

The Joint Administrators are now working with the management team and the local job centre to advise redundant employees and process redundancy claims as quickly as possible.

Interested parties should contact Phil Armstrong on Tel: 020 3005 4000 or email using the online form below.