Nearly 100 jobs cut at West Yorkshire yarn spinning firm

A West Yorkshire-based specialist yarn spinning company has made nearly 100 staff members redundant, after going under the control of administrators from KPMG.

Westwood Yarns, based at Washpit Mills in Holmfirth, appointed administrators Paul Flint and David Costley-Wood of KPMG in December due to cash flow difficulties.

Although the joint administrators managed to retain 38 members of staff, a total of 94 jobs were cut.

Westwood Yarns, which was predominantly supplied Victoria Carpets, will continue to trade in a limited capacity to fulfil several orders that are currently in progress whilst the administrators continue to look for a buyer of the business and assets.

The 38 retained employees will also assist the administrators in their continuing duties.

Paul Flint, Associate Partner at KPMG and Joint Administrator, said: “We are working with the employees to assist them through this difficult time.

“We will be providing guidance to those affected in making claims to the Redundancy Payments Office and have been liaising with the local job centre for their help.”

“The business, which we will continue to run in a limited capacity for a short period, has generated interest from a number of parties for a potential sale as a going concern. We would urge any further interested parties to come forward for the business and its assets, which include the freehold for the 160,000 sq ft site, as well as plant and machinery.”

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