PKF Smith Cooper selected for Stones4Homes administration

Selby-based natural aggregates company Stones4Homes has announced it is ceasing to trade. Administrators from PKF Smith Cooper have been appointed to deal with the company’s remaining assets.

Stones4Homes Limited, a York-based supplier of decorative aggregates and landscaping products, fell into administration in April. In accounts for the year to October 31 2023, the company’s fixed assets were valued at around £277,000 and current assets at £1.5 million, with net assets amounting to slightly over £881,000.

The firm had built strong local relationships since its incorporation in 2008, despite being a small family business. In 2022, the company was bought by Prestige Holdings which introduced new management and strategic direction to the business.

However, bad weather during the winter of 2024 harmed sales of both Stones4 Homes and parent company Prestige Holdings, causing cash flow pressures for both – especially following the heightened inflationary environment of the UK. Accountants and business advisors PKF Smith Cooper were initially approached on February, before a Notice of Intention to Appoint Administrators (NOITA) was filed in March – with PKF Smith Cooper engaged to help the Board with undertaking an accelerated Merger and Acquisition process.

However, the company faced challenges during this process and despite the effort to secure a sale for the company. Despite three parties initially being interested in buying the business, its sale as a going concern was unsuccessful. Dean Nelson and Emily Oliver of PKF Smith Cooper will now work to sell off its remaining assets.

A PKF spokesperson commented, “The administrators are disappointed with the outcome in not securing a sale of the business and assets as a going concern, and they would like to thank the employees, for their hard work and understanding during this difficult process.”