Administrators from the Manchester office of KPMG were appointed on 12 July. They swiftly sold the shopfitting side of the business in a pre-pack deal to a new company called Naylor & Walkden Fit-Out Ltd. This saved 28 jobs but a further 57 were made redundant as the construction business was shut down.
Naylor & Walkden, based in Chorley, had a turnover of £18.3m last year. It is a subsidiary of Bravell Ltd, the ultimate parent company being Naylor and Walkden (Holdings) Ltd. It is on the Constructionline approved list for projects up to £3.5m.
The company was founded in 1947 by Nat Naylor and Les Walkden. The latter’s son, Tony Walkden, joined the firm in 1965with brothers Barry and Michael also following on. In 2005 there was a management buyout by Philip Gray.
Paul Flint, associate partner at KPMG and joint administrator, said: “The administration of Naylor & Walkden is symptomatic of the prolonged turbulence within the economy which unfortunately has affected both main contractors and the supply chain as a whole within the construction industry. While we are delighted to have secured a sale of the shop-fitting element of the business, we are seeking interested parties for the remaining business and assets.”