Castle Granite go into administration

摘要

Last month Castle Granite, of Ludgvan, near Penzance, Cornwall, were placed in administration, with business recovery and insolvency specialists Begbies Traynor appointed to handle the sale of the company.rnThe privately owned natural stone and aggregates business, which employs 12 people, has extracted high-quality granite from Castle-an-Dinas Quarry for use in building and construction since 1994.rnSince 2006, following the installation of a coating plant at the site, the company has also supplied materials for road construction throughout Cornwall.rnAccording to the administrators, the significant contraction of both the domestic building and civil engineering industries, as a result of the general economic recession, has lead to cash-flow problems at Castle Granite. However, the underlying business is said to remain strong and is continuing to trade while a buyer is sought for the company.