British ceramics manufacturer Silverdale Bathrooms stops trading
Following the adminstration of Silverdale Bathrooms, and despite rumours of potential buyers, the company has now closed.
Since their appointment, the joint administrators from Duff & Phelps, Matt Ingram and John Whitfield had continued to trade while looking to sell the business as a going concern.
However, the company has now ceased to trade with the remaining 26 employess made redundant, making a total of 68 job losses.
Commenting on the job losses, Matt Ingram stated: “It is with real regret that we have had to close the business, and with it, make the workforce redundant. However, with Adminstration comes uncertainty and this was evident as customers understandably waited to see the outcome of the Adminstration before committing to significant orders. The resulting loss of turnover meant that the business was incurring unsustainable losses, which left us with no option but to close the doors.”
However, he did not rule out the possibility of a bathroom manufacturing purchaser. He added: “The infrastructure is still in place and if a purchaser could be found to buy the assets, and they were also able to agree terms with the landlord, then it is not beyond the realms of possibility that manufacturing could return to teh site. However, at present, we do not have anyone indicating such interest and consequently our agents are exploring all possible strategies to realise value for the company’s assets.”
Before its demise, Silverdale Bathrooms manufacturered the period-style BC Sanitan sanitaryware brand, as well as contemporary Silverdale and Jacuzzi sanitaryware brands.