Administrator Matt Ingram of Duff & Phelps, said it was intended to keep the Newcastle-Under-Lyme, Staffordshire-based business – one of the last of its kind in the UK – open and trading while a buyer is sought.
He continued: “The company was subject to a management buyout in 2011 and sales have failed to increase in-line with the business plan. Consequently, this appears to have resulted in the overhead base of the business consuming working capital to the point that there has been no option but to seek the appointment of administrators.
“Following our appointment, it has therefore been unfortunately necessary to make 23 of the 75 employees redundant as we assess the current financial picture of the company.”
The Silverdale factory has been producing ceramic pieces for almost 30 years, and is one of the few remaining facilities still casting in the UK today. Its brands include the period style BC Sanitan and contemporary ranges under its Silverdale and Jacuzzi Ceramic labels.
This material is protected by copyright Ken Hurst 2013.