Buyer sought for Cosalt Ballyclare
A BUYER is being sought for Stockport-based workwear company Ballyclare after its parent company, Cosalt, went into administration.
The Yorkshire-based group appointed PwC on Friday and a deal to sell some parts fo the marine safety company was announced on Tuesday.
Ballyclare, which has nearly 60 staff and also has an operation in Barnsley and two distribution centres in the South East, is continuing to trade as normal.
David Kelly an insolvency partner at PwC in Manchester is one of the joint administrators.
PwC says negotiations to find a new owner for Ballyclare, which supplies bluechip industrial companies such as Nissan, are “ongoing”.
Grimsby-based Cosalt was plunged into crisis last year amid a debt mountain of £17m and called in administrators after a takeover offer by Carphone Warehouse founder David Ross was rejected.
