Levantina Goes Into Administration

Operating in Basingstoke and Rotherham, Levantina UK, the stone company, has entered administration citing declining demand in the UK’s housing and refurbishment sector as a main cause of its financial difficulties.

Levantina UK is the UK distribution division of Levantina Group, a worldwide stone business focused in extracting, manufacturing and distributing stone products including marble, granite, limestone and other natural stones.

Mostly buying semi-finished stones in slab form, the company has more than 350 B2B customers from stonemasons and kitchen and bathroom businesses in the UK.

Levantina (UK) Limited reported turnover of £5.1 million in accounts for the year ended December 31 2022. But over the same period, its post-tax losses grew from about £538,000 to almost £723,000.

Now appointed as joint administrators of Interpath Advisory are Nick Holloway and Stephen Absolom; the wider multinational Levantina Group is not affected by the administration. After the joint administrators were appointed, the company kept its twelve employees.

“We are working with the business to continue to trade and keep operations running at the sites in Basingstoke and Rotherham, so it is business as usual for staff and customers. The administration provides a period of protection while we explore options for the future of the business in the UK” said Interpath Advisory Managing Director and joint administrator Nick Holloway.

The company’s assets in its 2022 accounts came out to be just under £3.4 million. But at the time, it owed debtors around £5.8 million, and overall the company had liabilities of more than £2.4 million.