Manchester textile group buyout saves 100 jobs

Tue, 06 Jun 2017 | ADMINISTRATION

In a move that has saved more than 100 jobs, a group of historic textile manufacturers in Greater Manchester has been sold out of administration.

The companies, which undertake projects for brands such as Mothercare, Marks & Spencer and John Lewis, went into administration on 23 May 2017, with RSM appointed as administrators.

Cliq Designs, JH Cunliffe & Company, Bolton Textiles and Inhome Soft Furnishings are respected local brands with a long history in providing sewing services to the textile industry spanning products such as bedding, curtains and clothing for an assortment of household brands.

RSM cited increased competition and cash flow issues as the main reasons the companies, based across two sites in Bolton and Rochdale, were struggling.

Following on from action by the administrators the group of companies were sold to newly incorporated company Bolton Textiles (Group).

Jeremy Woodside, RSM Restructuring Advisory partner and joint administrator, said: "The deal saves a group of historic Lancashire manufacturers, which is not only great news for the 102 employees and the wider Lancashire economy, but it ensures continuity to the companies' loyal customers."


Share this article



Latest Businesses for Sale

Accountancy Practice: 2 Partnered
Gwent, Wales, UK

This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...

Asking Price: Offers Invited
Turnover: £400,000

FREEHOLD


Accountancy: 4 Partner Practice
Cheshire, UK Wide

This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £1,735,000

LEASEHOLD


Accountants: 2 Partner Firm
West Yorkshire, Yorkshire and the Humber, UK

This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £360,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources