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BECK administrators sell off part of the business

editor

The administrators of Surrey-based fitout specialist Beck Interiors have secured a pre-packaged sale of part of the business, rescuing some jobs at the firm. 

BECK office in Chessington. (Google Maps).

Following the part-sale, which includes a major ongoing contract, business recovery specialist Begbies Traynor said it was now “evaluating offers” for the remaining parts of the business with the aim of saving more jobs and value for creditors. 

In June, the directors of the company instructed its advisers to secure fresh investment in the business following “liquidity issues” relating to an ongoing customer dispute, supply chain failures and increased costs on current contracts. 

The process, however, was unsuccessful and Beck Interiors was no longer able to continue to trade. 

Beck was established more than 30 years ago but began trading as an Employee Ownership Trust in 2021.  

It focuses on luxury hospitality, leisure, residential and museum projects throughout the UK and overseas, including the refurbishment of The Dorchester Hotel on Park Lane in London.  

Latest accounts for the year ended 31 December 2022 show Beck saw turnover of £139.3 million, generating a pre-tax profit of £7.2 million and operating profit of £7 million, all significantly up on the previous financial year.  

It is understood Beck Interiors employed in the region of more than 250 people at the time of its last financial report.   

A spokesperson from Begbies Traynor said: “On 23 July 2024, Stephen Katz, David Rubin, and David Birne of Begbies Traynor were appointed as joint administrators to Beck Interiors Limited. 

“Following the appointment, the joint administrators acted swiftly to secure a pre-packaged sale of part of the business, including a major ongoing contract, which has resulted in the preservation of jobs and the retention of value within the company. 

“The joint administrators are currently evaluating offers for the remaining parts of the business with the objective of securing further jobs and realising value for creditors.”   

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