Pictured above: Bev Marsh
The Birmingham office of RSM Tenon has been appointed as
administrators for property and construction firm, the Image Styles
group.
Around 95 people were employed across the group which is based
in Sedgley Road, Tipton. There are three subsidiary companies -
Image Styles Property Services Ltd, Image Styles Insulations Ltd,
and Image Styles Decorating Ltd.
"We were appointed late on the 24th January," says Bev Marsh of
RSM Tenon, the leading accountancy and business advisory firm.
"We immediately instructed a firm of quantity surveyors to
assist us in reviewing outstanding Image Styles contracts to see if
the customers were willing to continue the contracts under
administration.
"Unfortunately, after looking through the outstanding contracts
and carrying out a complete overview, we felt that this wouldn't be
possible. This is not a decision we have taken lightly.
"As a consequence, all the direct employees of property services
and insulations have been made redundant. Nine people have been
made redundant in Property Services, 28 people have been made
redundant in Insulations, and 34 people have been made redundant in
Decorating.
"We are also looking for interested parties who would be able to
take over the business and assets of the group.
"This is a well known company with a good reputation, a family
owned business which has being operating for many years. It is very
unfortunate, but Image Styles has been a victim of the times.
Affected by the drop in public sector work and the recession, Image
Styles is one of many companies affected in the downturn.
"We are currently working with interested parties of Image
Styles Decorating and it is hoped that this business can continue
in some form."
Image Styles was established in 1982.