E&Y says Polycol ceases trading without buyer
PVC Group’s Polycol business has ceased trading without any buyer interested
Cheshire-based PVC compounder Polycol, has ceased trading, costing 55 jobs.
Polycol was part of the
PVC Group, which went
into administration at the beginning of September.
Administrators
Ernst
& Young successfully sold three of the group’s subsidiaries – Eagley
Trade Extrusions, PVC (Powders) and Pulse Building Plastics – as going concerns,
securing about 131 jobs.
According to an E&Y spokesperson, a buyer had not been found for the
Polycol business and assets were now being realised for those businesses that
could not be sold. Two other companies from the group – PVC Compounds and PVC
Sales– have also been wound up.
In all, the job losses across the group as a result of the Polycol business
and the other two businesses being wound up total 94.
Further reading:
E&Y administrators saves jobs at PVC group