The administrators of an exhibition stand manufacturer have appointed CAPA to audit sites across the business, after the impact of Brexit and lockdowns led to its insolvency.
KPMG instructed CAPA to conduct a property audit on sites occupied by Warrens Display Ltd - which designed, produced and installed exhibition stands from its headquarters in Leeds - after the business was no longer able to keep trading.
The origins of Warrens Display can be traced back over 100 years, but the business in its most recent form was incorporated just over 25 years ago.
The company initially saw a decline in sales when some of their European clients decided to use local manufacturers instead. This slump was exacerbated when their sales and pipeline effectively vanished during the recent lockdowns.
After James Lumb and Howard Smith of KPMG were appointed administrators in November 2020, they instructed CAPA to conduct property audits.
CAPA’s audit team will now use bespoke software to conduct a forensic analysis of all property costs across the sites the manufacturer traded from, around the UK.
The team will inspect information on costs such as utility bills and service charge management expenses, to discover if any ‘overspend’ can be recovered for creditors on a no-win no-fee basis.