57 jobs under threat as textile firm goes into administration
A Rochdale textile company has gone into administration, threatening the jobs of 57 staff.
TBA Textiles went into administration on May 30 with Ben Woolrych and Russell Cash at FRP Advisory appointed to handle its affairs.
The company at Transpennine Trading Estate on Gorrells Way is continuing to trade while buyers are sought for the business.
FRP is citing “unsustainable pressure” on TBA’s cash flow as the main reason for its demise.
The company made pre-tax losses of £376,887 on turnover of £7.6m in the 2015 calendar year.
Woolrych said: “Over its long trading history, TBA Textiles has earned a well-deserved reputation for reliability of service and quality of products, and has an extensive network of distributors and partnerships with a global customer base across 100 countries.
“The business has three divisions, covering thermal insulation textiles, speciality products and FIREFLY Fire barriers, each with a broad and loyal customer base.
“We are marketing the business for sale and we encourage any interested parties to make early contact.”