Textile businesses sold out of administration
Date published: 23 June 2017
A group of textile businesses based in Rochdale and Bolton have been sold out of administration in a deal which saves over 100 jobs and maintains continuity of service to customers.
Cliq Designs Limited, J.H Cunliffe & Company Limited, Bolton Textiles Limited and Inhome Soft Furnishings Limited went into administration on 23 May 2017.
The companies, based across two sites in Rochdale and Bolton, have suffered challenging trading conditions due to increased competition in the sector reducing sales margins. In addition, the companies had been suffering on a cashflow basis for some time.
Following the appointment of Jeremy Woodside and Chris Ratten of RSM Restructuring Advisory LLP as joint administrators, the group of companies were subsequently sold to Bolton Textiles (Group) Limited.
Jeremy Woodside 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 ensure continuity to the companies’ loyal customers."
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