Beccles-based John’s Joinery looking for a buyer after calling in administrator
- Credit: Archant
A joinery business is set to close unless a buyer can be found.
John's Joinery, which trades from Gosford Road, Beccles, laid off its five employees last week after running in to cash flow difficulties, according to administrators Leading Corporate Recovery.
Insolvency practitioner Jamie Playford said the company, which offers wood joinery goods, had liabilities of around £100,000 but had future work available if a buyer could be found.
He said: 'When we reviewed the cash flow with the director, it was clear that the company was due to run out of cash within days.
'We are now looking to find a buyer for the business and assets to recoup money for creditors.
'There is a pipeline of work that is available to anybody who is interested in taking over the business, however any customers' deposits already paid have been absorbed by the company on the work that has been started.'
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