Partner Article

Burnley-based Anti-Corrosives Ltd calls in administrators

Burnley-based Industrial Anti-Corrosives Ltd has called in business advisory firm, BDO LLP, to act as administrators after suffering from the poor economic climate.

Kerry Bailey and Jon Newell were jointly appointed to find a buyer while the company continues to trade.

The family business was established in 1978 and employs 39 skilled staff, all of whom will be retained while the sale process goes ahead.

Administrators said despite this, they are assessing the situation and some redundancies may be necessary.

Kerry Bailey, BDO business restructuring partner, commented: “Unfortunately the economic climate and difficult trading conditions have significantly affected the business.

“Though the Company has a good customer base, in recent months it has not been possible to generate the necessary volume to make the business viable. However, the business has a sound reputation and strong order book.

“Our objective is to sell the Company as a going concern and it will continue to trade whilst the options are explored.”

This was posted in Bdaily's Members' News section by Miranda Dobson .