Business recovery briefs
Blair Nimmo and Neil Armour, of KPMG Corporate Recovery, the joint receivers for Aberdeen-based textile manufacturer Richards, have announced preferred bidders for parts of the business.
A management team led by Norman Gray is the preferred bidder for the fancy goods manufacturer Spence Bryson and Claremont Fabrics of Derbyshire has topped the offers for the High Quality Contracts business.
- Rod Butcher and Nigel Price, partners at Moore Stephens Corporate Recovery in Birmingham, have been appointed joint administrators for Kidderminster-based carpet maker Master Weavers.
Directors Peter and Marjorie Hardiman, said their business had declined after 15 years due to cheap foreign imports and bad debts. The administrators have made half the workforce redundant and are now running the business as a going concern in the hope of finding a buyer.
- Tenon Recovery has announced the sale of the Haydock-based Wignall Poultry business as a going concern. The company employs 80 people and processes wholesale chicken for the retail market.
The business was sold to its original founder Derek Wignall, who had started it in the 1990s and sold it just over a year ago to Dagonal foods.