Fri, 24 May 2013 | ADMINISTRATION
Administrators are on the hunt for a buyer for Industrial Anti-Corrosives Ltd, which trades as IAC Plastics.
Kerry Bailey and Jon Newell of BDO have been drafted in to the business and are enabling it to continue trading while a buyer is found.
Located in Burnley, Lancashire, IAC Plastics makes engineering plastics and parts, as well as the Corromide brand of cast nylon products including rods, tubes, sheets and custom castings. The firm reached its 35th year last November.
Its 39 staff have, so far, been kept on though some losses may occur as the administration process continues.
Ms Bailey commented in a statement: “Unfortunately the economic climate and difficult trading conditions have significantly affected the business. Though the company has a good customer base, in recent months it has not been possible to generate the necessary volume to make the business viable.
“However, the business has a sound reputation and strong order book. Our objective is to sell the company as a gong concern and it will continue to trade whilst the options are explored.”
____________________________________________________________________________
Related:
Leaco enters administration
Manufacturing businesses for sale
Explore the chance to acquire a thriving recruitment agency located in South England, offering a robust client base and growth potential.
Exceptionally busy MOT testing station and vehicle repairs/servicing business which has been in the same hands for over 30 years and proved particularly profitable for the vendor.
A unique opportunity to acquire a reputable Yorkshire-based haulage business with a strong regional presence and significant growth potential.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.