Tue, 15 Jun 2010 | ADMINISTRATION
Pilkington's Tiles, the Manchester-based leading tiling manufacturer, has been placed into administration, putting all of the company's 380-strong workforce under threat.
The dire conditions felt by housebuilding firms is thought to have contributed to the company posting a pre-tax loss of £2.9 million in the year to March 31, 2009, which also saw sales drop by 3.8 per cent.
The company has appointed Paul Flint and Brian Green from KPMG Restructuring as administrators and they intend to continue trading the business while searching for a buyer.
Flint said, "It is no coincidence that the latest BRC-KPMG Retail Sales Monitor indicated that furniture and floor coverings were the worst-performing sectors within retail. It highlighted the reluctance of consumers to commit to big-ticket purchases while uncertainty over the future looms."
The company was bought out in 2004 by a management team headed by chief executive Ray Tarr. Its Manchester base employs 325 staff, while sites in Dorset, Dublin and Tameside employ a further 55.
The administrators said all staff had been sent home for a few days while they took stock of Pilkington's position. They said they hoped to be able to "advise on potential redundancies" before the end of the week and urged any interested buyers to contact them.
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