BusinessBusiness RecoveryArtenius collapses after Spanish parent pulls plug

Artenius collapses after Spanish parent pulls plug

Affairs of Teesside-based subsidiary of Spanish giant La Seda De Barcelona, now being handled by administrators from Deloitte

The Artenius chemical plant in Teesside has been placed into administration
by its Spanish owners, making 137 of 242 staff redundant.

La Seda de Barcelona is closing the plant in Wilton, near Redcar, as part of
a five-year restructuring plan which includes selling on five other sites in
Europe to focus on chemical production abroad,
nebusiness.co.uk
reported.

Administrator Dan Butters
told
the BBC
: ‘The company is continuing to trade while we seek to identify going
concern bidders.

‘Regretfully we have been forced to announce 137 redundancies today, mostly
in respect of the already closed division.

‘We are extremely grateful to the staff and management for their co-operation
during this difficult time.’

‘We are working with the Job Centre and Insolvency Service to support
employees wherever possible and are grateful for their assistance.’

Related Articles

Big Four insolvency specialist joins Gibson Hewitt

Business Recovery Big Four insolvency specialist joins Gibson Hewitt

1y Richard Crump, Writer
Director banned for failing to keep proper accounting records

Business Recovery Director banned for failing to keep proper accounting records

1y Richard Crump, Writer
Due diligence on BHS 'extensive' GT partner tells MPs

Accounting Firms Due diligence on BHS 'extensive' GT partner tells MPs

2y Chris Warmoll, Writer
MPs hear from trio of Big Four firms over BHS advice

Accounting Firms MPs hear from trio of Big Four firms over BHS advice

2y Chris Warmoll, Writer
Interview: R3 president Andrew Tate

Business Recovery Interview: R3 president Andrew Tate

2y Chris Warmoll, Writer
Insolvency Service to probe BHS director behaviour

Business Recovery Insolvency Service to probe BHS director behaviour

2y Chris Warmoll, Writer
R3 calls for creditor 'breathing space' to help turn companies around

Accounting Standards R3 calls for creditor 'breathing space' to help turn companies around

2y Chris Warmoll, Writer
R3 cautiously welcomes advent of simpler bankruptcy regime

Business Recovery R3 cautiously welcomes advent of simpler bankruptcy regime

2y Chris Warmoll, Writer