Sunderland-based A Thompsons & Sons in administration

Related Stories

Up to 70 jobs are at risk after a Sunderland-based building merchants called in administrators.

A Thompsons & Sons has branches across Tyne and Wear, County Durham and North Yorkshire and has been in business since 1955.

Administrators KPMG said the firm had suffered from poor sales and was unable to pay its staff last month.

No jobs have yet been lost, but KPMG said it was looking for a buyer for the company and its assets.

'Weak trading'

A KPMG spokesman said: "It was announced by Thompsons last week that the company was facing financial difficulties and the option of seeking a Company Voluntary Arrangement (CVA) with its creditors was being explored.

"However, following a winding up petition from HMRC, the ability to achieve this without the protection of an administration has not proved possible.

"The business has been impacted by weak trading conditions across the sector, which has led to cash pressures.

"Ultimately an inability to pay last month's wage bill and the issuing of the winding up petition have resulted in Thompsons entering administration.

"We are now assessing the financial position of the company while marketing the business and assets for sale."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC Tyne & Wear

Weather

Newcastle upon Tyne

Min. Night 7 °C

Features & Analysis

  • Cartoon of women chatting on the metroChat wagon

    The interesting things you hear in a women-only carriage


  • Replica of a cargo boxSpecial delivery

    The man who posted himself to the other side of the world


  • Music scoreFinal score Watch

    Goodbye to NYC's last classical sheet music shop


  • Former Secretary of State Hillary Rodham Clinton checks her Blackberry from a desk inside a C-17 military plane upon her departure from Malta, in the Mediterranean Sea, bound for Tripoli, Libya'Emailgate'

    Hillary gets a taste of scrutiny that lies ahead


Elsewhere on the BBC

  • Woman standingMysterious miracle

    It's extremely unusual and shouldn't give false hope, but what makes the body beat cancer on its own?

Programmes

  • A cyborg cockroachClick Watch

    The cyborg cockroach - why has a computer been attached to this insect’s nervous system?

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.