Wed, 10 Jun 2015 | ADMINISTRATION
Titan Ladders Limited is set to enter administration unless a buyer for the distressed business can be found quickly to turn things around.
The business has been trading for more than 80 years and boasted an annual turnover of £5.5 million, but financial struggles have gotten the better of the established ladder manufacturer.
Mazars, a Bristol-based accountancy group, has been appointed to handle the distressed company affairs and oversee the impending administration process.
Tim Ball, who is leading that effort for Mazars, spoke to SouthWest News about the administration: “It is very sad to see another long-established British manufacturing business struggling to compete with overseas competition and internet sales.
“A number of redundancies have already taken place and the company will enter administration in the coming days. The proposed administrators are actively seeking a buyer for the business and assets.”
The business manufactures various types of ladders including aluminium, timber, fibreglass and steel for both home and business use. It is the biggest ladder manufacturer of ladders in the UK but this has not saved the business from having to look at administration.
Bruce Candy, one of the company's directors, said that they would like to “thank all of their trading partners for their loyalty and support over the years” adding that the group regretted the “need to take this action”.
View more British businesses in administration.
This well-established scrap vehicle yard in Essex offers a unique opportunity to acquire a business with a significant stock of decommissioned parts and panels, alongside essential equipment such as forklifts and heavy demolition plant.
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
Presenting an exceptional opportunity to acquire a well-established specialist joinery business located in Southport, Merseyside.
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.