£19m manufacturing firm in administration (From Warrington Guardian)
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£19m manufacturing firm in administration
6:35pm Sunday 18th March 2007 in Business By Stephen Bailey
A GREAT Sankey-based manufacturing firm has been placed into administration.
Darcy Industries Limited employs 150 people at its site in Liverpool Road and in Bolton.
It manufactures brands like Hospec, Youngs Detergents and Homecare decorating products.
Homebase, B&Q, Morrisons and Lidl are among its customers.
KPMG Restructuring in Manchester has been appointed as administrators of the £19m business.
Paul Dumbell, one of the administrators, said: "We are currently in dialogue with customers and suppliers with the intention to trade the business while exploring the possibility of achieving a going concern sale.
"We are extremely hopeful of being able to conclude a sale to protect as many jobs as possible."
Mr Dumbell said the company had run into working capital difficulties because suppliers had tightened their credit controls.
He said: "The company does not have a particular issue with debt. The credit position has eased as suppliers have reduced their terms."
