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."
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