Portland limestone quarry company Stone Firms has gone into Administration.

Ian Corfield, Restructuring Director with Administrators KPMG, commented: "Stone Firms Ltd has a long and successful history of producing the world famous Portland stone which has been used to build so many great monuments in the UK. The business has suffered a severe decline in revenue over the last two years as a result of the economic downturn, which has had a huge impact on the construction sector. Unfortunately this led to a shortfall of cash and insurmountable pressure from creditors, leaving the directors no alternative but to request the appointment of Administrators."

The employees of Portland limestone quarry company Stone Firms were called to a meeting on Monday, 20 September to be told about the decision. The move came after repossession notices had been posted on some of the company premises on Portland, according to the local newspaper, the Dorset Echo.

Geoff Smith has headed the company. According to Companies House, notification of the resignation of a Mrs Geoffrey Gordon Smith as a Director was reported on 14 September.

On 13 August, a new company called Stone Firms (UK) Ltd was incorporated. It has the same Lupins Business Centre address in Weymouth as Stone Firms Ltd.

For the latest developments, see the October issue of Natural Stone Specialist.