Dunlop Latex collapse to cost 155 jobs
Pillow component manufacturer goes under despite efforts to sell the business as a going concern
KPMG administrators have failed to sell Harrogate-based Dunlop Latex Foam as
a going concern, resulting in 155 job losses.
Although administrators have sold some of the company’s assets to Latex Foam
International, they were unable to sell it as a going concern. A spokeswoman
said the price of the deal and description of assets sold were subject to
confidentiality clauses.
Redundancies for 100 staff were made today, with the remaining 55 employees
serving with the business as it is wound down.
‘It has been disappointing to communicate news of redundancies to employees
this morning,’ said joint administrator and KPMG restructuring director Howard
Smith.
‘However, a number of the factors that impacted on management’s turnaround
plan also hindered a sale of the business and ultimately this meant the best
return that could be secured for creditors was through the sale of certain
assets that we have negotiated with LFI.’
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