Deal stitched up to save textile businesses

A group of Greater Manchester textile businesses have been sold out of administration in a deal which saves more than 100 jobs and maintains continuity of service to customers.

Jeremy Woodside and Chris Ratten of RSM Restructuring Advisory were appointed joint administrators of Cliq Designs; J H Cunliffe & Company; Bolton Textiles; and Inhome Soft Furnishings on May 23.

The companies, based across two sites in Bolton and Rochdale, have suffered challenging trading conditions due to increased competition in the sector reducing sales margins. In addition, the companies had been suffering cashflow difficulties for some time, RSM said.

Following the appointment of administrators, the group of companies were subsequently sold to Bolton Textiles (Group).

Jeremy Woodside, RSM partner and joint administrator, said: “The deal saves a group of historic Lancashire manufacturers, which is not only great news for the 102 employees and the wider Lancashire economy, but it ensure continuity to the companies’ loyal customers.”