Mon, 06 Feb 2012 | ADMINISTRATION
Administrators are carrying out a search for a buyer for fittings manufacturer, Oakworth Joinery, after it fell into administration.
The company, which is based it Keighley in West Yorkshire, appointed administrators last week, after directors were unable to succeed in finding a buyer themselves, according to business news service, Insider Media. John Russell and Chris White of The P&A Partnership will now continue with the search for a new owner for the business.
Mr Russell said that they were hopeful of finding a buyer for the business – which is Keighley’s second biggest employer – but that all options are going to be considered.
“Unfortunately Oakworth is a victim of the continuing downturn in the construction sector and of difficulties in accessing finance for new machinery,” Mr Russell said. “Our immediate priority is to look at options for the business and we are consulting with staff, creditors and customers.”
Oakworth Joinery has been manufacturing in the town since 1965, specialising in quality windows and doors, becoming a major supplier for the local construction industry. It employs 170 people.
Mr Russell explained that the directors have been trying in recent months to keep the business trading profitable, and had actually managed to find a buyer themselves. The deal, however, fell through on Friday, leading to the appointment of the administrators.
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LEASEHOLD
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