Established Toy manufacturer enters administration
Tube Plastics Limited, the UK’s largest outdoor toy manufacturer has entered into administration.
The Kidderminster company, better known as TP Activity Toys, supplies high quality, award winning outdoor toys and accessories, including trampolines and climbing frames both to high street retailers and direct to the customer.
James Sleigh, Geoffrey Martin and Stephen Goderski of Geoffrey Martin & Co have been appointed as joint administrators.
They are actively seeking buyers from the company’s core business, whose customers include Tesco, John Lewis and Early Learning Centre, as well as investment in its highly profitable subsidiary, Muddy Puddles.
Tube Plastics had operated for over fifty years, and turnover in 2011 was £12m, with a hundred-strong workforce.
Managing Director, Chris Martyn-Smith, said: “It is a very sad day and the Directors want to thank the many employees who have been such an important part of building the business over the last 50 years”.
Most of the workforce are expected to be made redundant, with administrators working to fulfil Christmas orders.
The Muddy Puddles Limited subsidiary continues to trade as normal.
This was posted in Bdaily's Members' News section by Tom Keighley .