KPMG confirmed this afternoon that they’ve been appointed as administrators after the company experienced “trading difficulties.”
45 of 50 employees have been made redundant. The remainder are helping the administrators collect debts and sell assets. Neither the Brighton nor the London offices were answering the phone when we called this afternoon.
Ex-Kinsey Allen consultants say they’ve been dismissed without receiving their salary for May, redundancy pay, or a quarterly bonus which was due to be paid at the end of this month.
“Some people were owed an 80k bonus at the end of this week,” says one former employee. “Now they’re going to have to join the queue with the rest of the creditors.”
The company was understood to be in discussions with other financial services headhunters to sell all or part of the business, but the discussions appear to have come to nothing.
Ken Brotherston, CEO of Kinsey Allen, declined to comment.