Stourbridge optical firm lapses into administration

A STOURBRIDGE optical firm has lapsed into administration although hopes are high that the business can be saved.

Oakhill Optical Laboratory, which employs 20 people, manufactures lenses for the optical industry.

Gerald Smith and Ben Woolrych, partners at FRP Advisory, the national restructuring firm, have been appointed as joint administrators of the firm. They have said the business will continue to trade as normal while a buyer is found.

They said Oakhill Optical had a profitable history but had recently faced tougher trading conditions. Despite securing external investment last year, the business has continued to face further cash-flow issues in 2015.
 
After attempts to secure further external investment failed to materialise, the company was left with no option but to seek administration. All 20 staff are being retained while the sale process continues.

With over 30 years’ trading history, the company manufactures and supplies ophthalmic lenses to around 120 opticians and optical professionals across the UK and Ireland including Boots Opticians.
 
Gerald Smith, a partner at FRP Advisory, said: “Oakhill Optical has a strong history and a loyal customer base. The joint administrators are continuing to trade the business from its premises in Lye to ensure that we meet customer orders whilst actively marketing the business for sale. We encourage any interested parties to make early contact.”