Financial services firm Kinsey Allen has gone into administration, according to financial news site eFinancialCareers.

According to eFinancialCareers, KPMG confirmed they’ve been appointed as administrators after the company experienced “trading difficulties”.

This is the second occasion Kinsey Allen has gone into administration. After it merged with GRS in 2009, it opted for a pre-pack in June 2010.

According to eFinancialCareers, 45 of 50 employees have been made redundant, with the remaining staff helping the administrators collect debts and sell assets.

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.

One former employee was quoted as saying “Some people were owed an £80k bonus at the end of this week. Now they’re going to have to join the queue with the rest of the creditors.”

At the time of going to press, no one at Kinsey Allen had returned Recruiter’s calls.