Fri, 22 Jul 2011 | ADMINISTRATION
Administrators are still looking for a buyer for Cramlington-based H-A Interiors, which had to be put into administration two weeks ago despite having a full order book.
The position was forced on the company after its German parent company Alkor-Venilia GmbH went into administration, but the administrators for H-A, financial services firm Mercer and Hole, have said the company is easily capable of surviving if a buyer can be found.
The company makes self-adhesive decorative borders, wall coverings and wallpaper, and has orders from a range of major British companies including Argos, Homebase and B&Q.
Mercer and Hole’s Chris Laughton said they were still looking at the option of giving the company another chance at business through a new owner, rather than having to sell off the remaining equipment to fund its creditors.
“This factory and its staff are keen to prove that UK manufacturing can rise like a phoenix again,” he said. “There is a community riding on this sale that are willing, talented and able to help an investor grow the business and benefit from decades of expertise, marketing know-how and manufacturing quality.”
The company recorded a turnover of £9 million and a profit of £3.5 million last year.
Serving blue-chip data management and security technology clients across the globe, this disruptive software development company provides tools and services to assess, repair, and recover, and migrate enterprise backup products.
Operating internationally, the company delivers tailored electrical distribution and control solutions to public and private sector clients across a wide range of industries.
This substantial 43-bedroom urban hotel, situated just 5 miles from Newcastle city centre, offers an exceptional investment opportunity with its prime trading location and extensive public areas, including a popular bar and refurbished function room.
FREEHOLD
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.