Tue, 05 Feb 2019 | ADMINISTRATION
Burnley-based manufacturer and designer of home furnishings, Textile Imports Limited has entered administration. Offers are currently being sought for the purchase of the business.
Steven Muncaster and Sarah Bell, both of Duff & Phelps have been appointed as joint administrations and will continue to trade the business while a buyer is found.
The 33-strong workforce has blamed cashflow problems as the reason for the decision to enter administration.
Joint administrator, Steven Muncaster, said: “The company has faced a series of cash flow challenges in recent months as a result of a poor trading position.
“This has been driven, in part, by the softening of consumer demand which has depressed spending.
“It is, however, our stated intention to continue to trade the business as we search for a buyer and would encourage anyone who is interested to contact us.”
Established in 1953, Textile Imports has a rich history and manufactures, designs, imports and distributes a range of high quality branded home furnishings and also is a supplier of online and retail businesses of all sizes.
Trading from Network 65 Business Park, Hapton, the company also owns the brands Hamilton McBride and Home Creations; both are known for being high quality furnishings.
Duff & Phelps has a global presence and has experience advising on matters in corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. Client base ranges from publicly traded and privately held companies, law firms, government entities and investment organisations such as private equity firms and hedge funds.
For more news stories about administrations click here. For all our administrations listings, click here.
Well-established company specialising in the manufacture and supply of high quality work wear mainly for the healthcare industry being an approved provider to the National Health Service but also supplying other industry sectors. The company is long...
LEASEHOLD
Manufacturing business operating in a clearly identified niche market. The business has been operating for almost a quarter of a century and has built up a first class reputation. Offers invited.
FREEHOLD
Well established business dealing in a niche market. Work undertaken for commercial and domestic use. Company operates throughout the UK and will design, manufacture and install. Offers invited.
LEASEHOLD
|
21
|
|
Jan
|
MBO at Newcastle market research company | MBO/MBI
Newcastle-based market research company Explain Market Resea...
|
20
|
|
Jan
|
Target Healthcare embarks on acquisition spree | BUSINESS SALE
Target Healthcare has completed the acquisitions of a develo...
|
17
|
|
Jan
|
Sample book and shade card manufacturer acquired from administration | BUSINESS SALE
The business and assets of Yorkshire-based display products ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
02
|
|
Feb
|
High street wine retailer Oddbins enters administration | ADMINISTRATION
Off-licence chain Oddbins has gone into administration. Its ...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
15
|
|
Dec
|
Two pub companies enter administration | ADMINISTRATION
Mitchell’s of Lancaster (Brewers) Limited and York Bre...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources