Preston and Thomas placed into administration
Business recovery specialists Begbies Traynor have been appointed as administrators for Preston and Thomas Ltd, the Cardiff-based manufacturer and supplier of cooking ranges to fish and chip shops across the UK.
Operating out of Woodville Engineering Works, Rumney, Cardiff, the company currently employs 25 people and celebrated its 100th birthday this year.
The administration order has been brought about by a decline in turnover in recent years; customers' difficulties in obtaining finance; and delays in obtaining customer orders and customers taking delivery of ranges, according to the company's directors.
Mr Hill, of Begbies Traynor, said: "Preston and Thomas has played a major role in British culinary culture, manufacturing the cooking equipment that millions of fish and chip shop customers have relied upon for decades.
"Having been appointed administrators, we are looking for interested parties to acquire the business and assets of this long established and highly regarded company with the aim of securing its future."
