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KPMG joint administrators, Mark Firmin, Howard Smith and Paul Flint, were yesterday appointed to TAPS plumbing merchants, part of the A Thompson & Sons business.
The Sunderland based plumbers merchants, with approximately 20 employees and six branches in the North East, is under the same ownership as Thompson Building Centres, which entered administration on 5 March.
Mark Firmin, joint administrator and regional head of restructuring at KPMG, said: “It has become clear that the trading and cash flow challenges that led to insolvency for Thompsons builders merchants have similarly impacted on TAPS, resulting in our appointment. Outlets will be closed today as staff assist us in our assessment of the business.”
Any party interested in acquiring some or all of either or both businesses should contact James Lumb on behalf of the administrators immediately at james.lumb@kpmg.co.uk.
