Buckets and spades specialist in danger of sinking

Buckets and spades specialist in danger of sinking
Firm dating back to 1920s goes into administration

SEASIDE buckets and spades importer Marshall Group – dating back to the 1920s – has gone into administration.

The company, based at Kimnel Bay, near Rhyl in North Wales and which employs 23 people, has suffered losses in the last two years, due to the poor weather in the summer months.

Jason Bell and Christopher Petts of Grant Thornton UK LLP have been appointed administrators.
 
Marshall Group, has annual sales of around £4m, and supplies more than 3,000 product lines, including buckets and spades and windbreakers, to shops in seaside resorts all over the UK.
 
All staff have been paid until the end of the month.   While there will be some redundancies at the month end, a number of staff will be retained in the short term to assist with the realisation of assets for the benefit of the creditors.

Jason Bell said: “The recent losses and import price rises on the horizon for next year have been the final straw for the business and the directors have reluctantly taken steps to protect the creditors of the company.”

The company’s business is highly seasonal and recent trading levels have not generated the cash reserves required to survive the winter season.
 
Mr Bell added: “Whilst we will explore all options, the timing of the failure will make the company unattractive to purchasers with an ongoing cost base and limited sales opportunities until the 2017 season.

“The job losses are sadly unavoidable. We will be retaining a skeleton staff to wind the business down.”

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