On Monday 8 October, Rok plc announced that it had asked the Finanical Services Authority to suspend its listing and trading in its shares following a decision to put the company into administration.
A three-man team from PwC took on the appointment and said that the company would continue to trade as buyers were sought.
Joint administrator and PwC partner Mike Jervis said that following a difficult year, especially for its underperforming plumbing, heating and electrical (PHE) wing, “Rok Plc had taken a number of steps to improve operations and to develop a sustainable and profitable business going forward. However, due to difficulties in meeting the company’s financial obligations, the company and certain subsidiaries have been placed into administration to pro...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.