Precision Stone - Administration

Precision Stone, a Wolverhampton and Warwickshire-based manufacturer of bespoke quartz, granite, marble and ultra-compact surfaces, entered administration on 19 February.

Benjamin Wiles and Philip Dakin of Kroll Advisory were appointed as joint administrators and completed a sale to National Stone Surfaces, a leading supplier of bespoke granite, marble, quartz and semi-precious stone work surfaces throughout the UK, Ireland and Europe, saving 44 jobs.

The new business will be known as Precision Stone Surfaces going forward.

The purchaser was advised by Weightmans, with a team consisting of Charles Boyne (insolvency), Kiri Hutton (insolvency), Kerry Baker (employment) and Judy Lankester (real estate).

Genesis Asset Finance, Bibby Financial Services and Blue Wall S.a R.L. have registered charges against the company.