Caithness Map :: Links to Site Map Paying too much for broadband? Move to PlusNet broadband and save£££s. Free setup now available - terms apply. PlusNet broadband.  

 

Norfrost in Administration

18th May 2005

NOTE: This statement from Caithness and Sutherland Enterprise has been issued following KPMG's announcement that Caithness white goods manufacturer Norfrost has gone into administration. A copy of the KPMG release follows, for reference.

Carroll Buxton, chief executive of Caithness and Sutherland Enterprise (CASE) said: "We are disappointed by this announcement. Norfrost is a major employer that has operated successfully producing a globally recognised product for more than 30 years.

"Our first priority is to work with the administrators to identify ways in which to secure the future of the business and employment in Caithness. We will also implement the PACE initiative to offer advice and assistance to any workers whose jobs may be affected.

"CASE has been working with Norfrost for some time in an effort to help the company meet the challenges it has been facing in an increasingly competitive international market.

"Last spring (2004) the local enterprise company provided Norfrost with a loan of 1.2 million to assist with the implementation of a new strategy to make the business more commercially competitive. That decision was based on recognition of the importance of Norfrost to the local economy, although it was recognised it carried a high element of risk.

"However, due to continuing difficult trading conditions, which are being faced by manufacturing businesses of this sort across the UK, Norfrost has been unable to achieve its forecasts and has ultimately decided to call in the administrators."


KPMG release:

Norfrost Limited in Administration

19th May 2005

Blair Nimmo and Neil Armour of KPMG Corporate Recovery were appointed joint administrators of Norfrost Limited by the Company's directors today (19th May 2005).

The business was established in 1972 and is based in Thurso. Norfrost is a white goods manufacturer and also has divisions which operate in the haulage and engineering sectors. The administrators have taken the decision to close the haulage and engineering divisions and, along with redundancies to bring the manufacturing division's workforce into line with current work levels, this has resulted in the immediate loss of 74 jobs. The company therefore now employs 87 people.

Norfrost Limited has recently experienced financial difficulties due to increased price competition from low cost economies, the rise in price of raw materials and the poor retail sector performance over the early part of 2005. Turnover for the twelve months to December 2004 was 13m.

Blair Nimmo, KPMG Head of Corporate Recovery in Scotland and Joint Administrator, said:

"Norfrost has a reputation for developing and manufacturing quality products and has a strong brand presence in its market. We are confident that we will be able to generate interest in the business.

"As always, it is regrettable that a number of redundancies have been necessary but by refocusing the company on its core business a viable entity is created.

"We are hopeful that with the support of the customers, suppliers and employees we will be able to successfully continue to trade the business as normal and quickly conclude a sale protecting as many jobs as possible."

For further information please contact:

Rachael Morgan KPMG LLP (UK) Corporate Communications
Tel: 020 7694 2692 / 07904 528106
E-mail: rachael.morgan@kpmg.co.uk
Blair Nimmo, Corporate Recovery Partner, KMPG Scotland
Tel: 07774 617582

 

Related Businesses

 

Related Articles

Hie Appoints New DirectorThumbnail for article : Hie Appoints New Director
Highlands and Islands Enterprise (HIE) has appointed a new director of business and sector development.   Originally from County Durham, David Oxley joined the organisation in 2004 as head of operations in Lochaber before moving to Forres with his wife and son in 2011 to take up the role of area manager in Moray.  
New Life Science Building On Inverness Campus Takes A Step Forward
The development of Inverness Campus moves another step forward with tenders being invited to build a second life science building.   Highlands and Islands Enterprise (HIE) is leading on the development of the campus.  
Aerospace And Defence Sector Opportunities In The Region Highlighted At Event
Aerospace and defence sector opportunities in the region highlighted at event Businesses in the Highlands and Islands are being invited to a free workshop to find out how the region can benefit from opportunities in the aerospace, defence, security and space industries.   It will be held in at An Lòchran, Inverness Campus on Tuesday 26 September 2017 The event is organised by Highlands and Islands Enterprise (HIE) and ADS Scotland which is the Scottish branch of the aerospace, defence, security and space industry trade organisation, ADS.  
Celebrating The Contribution Communities Make To Scotland
Over 250 community leaders from across Scotland will meet in Aviemore today and tomorrow (21-22 September) at a national conference to look at the impact and future role of community-led development on Scotland's social and economic fortunes.   The event, hosted by Highlands and Islands Enterprise (HIE) and supported by the Scottish Government, brings together community groups, academia and experts to discuss the vital contribution communities make to Scotland and consider how to support their continuing and increasing ambitions.  
Wes Takes Steps To Harness The Waves With New Control Systems Funding
Wave Energy Scotland (WES) has just announced over £660K of funding for 13 new projects aiming to develop innovative control systems for wave energy converters.   This initiative brings together control systems specialists from mature sectors such as aerospace and oil and gas, to work with Scottish technology developers in addressing the challenges of controlling and integrating Wave Energy Converter (WEC) systems and their components.  
HIE Helps Businesses Get Cyber StrongThumbnail for article : HIE Helps Businesses Get Cyber Strong
Highlands and Islands Enterprise is offering its clients across the region support to protect themselves from cyber attacks, by launching the Cyber Strong business project.   Co-inciding with Digital Leaders Cyber Resilience Week (11-15 September 2017), the agency is launching a programme to help local businesses and social enterprises achieve national Cyber Essentials accreditation.  
Workshop Focuses On Food And Drink Innovation
Food and drink businesses looking to grow through innovation are encouraged to register for a free workshop which takes place in Inverness on 31 August.   The event will focus on the new ‘Make Innovation Happen' service which provides a single access point for all innovation support to the Scottish food and drink industry.  
Scottish Expertise Goes On Show At World's Biggest Aquaculture Technology FairThumbnail for article : Scottish Expertise Goes On Show At World's Biggest Aquaculture Technology Fair
Twenty-three Scottish companies are travelling to Norway this week to highlight the country's expertise at the world's largest aquaculture technology exhibition.  Aqua Nor 2017 gets under way in Trondheim on Tuesday (15 August 2017), and runs until Friday (18 August 2017).  
Cabinet secretary stresses role of public sector in supporting NC500Thumbnail for article : Cabinet secretary stresses role of public sector in supporting NC500
The successful North Coast 500 tourist route will need strong co-ordinated support from the public sector to ensure its long term sustainability.   Experiences of the initiative should also be shared with groups around the country looking to develop similar projects.  
Study Shows North Coast 500 Route Added £9million Extra SpendingThumbnail for article : Study Shows North Coast 500 Route Added £9million Extra Spending
The North Coast 500 (NC500) tourist route, launched in 2015, has had a positive impact on both visitor numbers and business trade.   This is according to a new report commissioned by Highlands and Islands Enterprise (HIE).  

[Printer Friendly Version]