Wed, 07 Dec 2011 | BUSINESS SALE
A buyer is being sought for Worcestershire toy and play apparatus manufacturer, TP Activity Toys, after it fell into administration.
The company, which is also known as Tube Plastics Limited, has been operating since 1959 and specialises in installation play equipment. Administrators from turnaround specialists Geoffrey Martin & Co have said that they are confident that the company can be sold as a going concern.
The managing director of TP Activity Toys, Chris Martyn-Smith, said that the decision to enter administration came on "a very sad day" but that every effort would be made to fulfil all of the company's Christmas orders.
The business - which began when its founders started manufacturing hula hoops in their homes and sold them from their car boots - supplies items including trampolines and climbing frames to major vendors including Tesco, John Lewis and the Early Learning Centre.
The administrators have urged customers awaiting deliveries to get in contact. A spokesman for Geoffrey Martin explained that the financial troubles that the company was facing had been caused by mounting overheads and failed attempts to carry out refinancing.
TP Activity Toys had a turnover in the last year of £12 million.
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