Almost 80 Jobs Saved At York Stonemasons
The Restructuring & Insolvency team at law firm Irwin Mitchell has advised on a deal that has seen specialist stonemasonry businesses, J Rotherham Ltd, being bought out of administration, saving a total of 77 jobs in Yorkshire.
The firm, which was founded in Melbourne, near York in 1927, had experienced supply chain issues due to the covid pandemic and the war in Ukraine. The resulting capacity constraints and increased delivery costs had inflicted significant losses on the group, resulting in it entering administration
J Rotherham operated two distinct businesses and the sales of these were completed to separate buyers.
Its stone worktop business, Gemini Worktops, has been sold as a going concern to F Jones (Cleveland) Ltd an experienced fabricator of marble and granite products.
The company’s memorials business has also been sold as a going concern to Mindful Memorials Limited, a local retailer supporting the bereaved through providing personalised headstones and memorials.
It is understood the new buyers of the two businesses intend to fulfil outstanding customer orders and are contacting customers in this regard.
Tom Paton, Curtis Blackham and Rachel Piper at law firm Irwin Mitchell acted as legal advisers on the administration and sales.
Expert Opinion“We are delighted to have assisted Mazars in ensuring the continuity of the businesses and in saving dozens of jobs, particularly at a time of such uncertainty in the economy.” Tom Paton, partner at Irwin Mitchell
Patrick Lannagan and Adam Harris of Mazars were appointed together with Chris Brindle of Campbell Crossley Davis as Joint Administrators of J Rotherham Limited in March.
Patrick Lannagan, Joint Administrator at Mazars, said: “We are delighted to have secured the efficient sales of the J Rotherham businesses and to protect a significant number of skilled jobs in Yorkshire.
“A swift sale has ensured that all parties involved, including employees and customers, have avoided having to go through a period of protracted uncertainty.”