Fri, 22 Jul 2011 | ADMINISTRATION
Administrators are still looking for a buyer for Cramlington-based H-A Interiors, which had to be put into administration two weeks ago despite having a full order book.
The position was forced on the company after its German parent company Alkor-Venilia GmbH went into administration, but the administrators for H-A, financial services firm Mercer and Hole, have said the company is easily capable of surviving if a buyer can be found.
The company makes self-adhesive decorative borders, wall coverings and wallpaper, and has orders from a range of major British companies including Argos, Homebase and B&Q.
Mercer and Hole’s Chris Laughton said they were still looking at the option of giving the company another chance at business through a new owner, rather than having to sell off the remaining equipment to fund its creditors.
“This factory and its staff are keen to prove that UK manufacturing can rise like a phoenix again,” he said. “There is a community riding on this sale that are willing, talented and able to help an investor grow the business and benefit from decades of expertise, marketing know-how and manufacturing quality.”
The company recorded a turnover of £9 million and a profit of £3.5 million last year.
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LEASEHOLD
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