14 jobs saved in textiles firm sale
THE business and assets of Shirley Dyeing and Finishing in Hyde have been sold out of administration, saving all 14 jobs.
The textiles company provides dyeing and finishing services and works on processes for new fibres and fabrics.
Administrators from Begbies Traynor in Leeds were appointed after a pension liability made the company insolvent.
Its parent company, Leeds-based British Textile Technology Group (BTTG), was already going through a creditors voluntary liquidation for the same reason.
Shirley Dyeing and Finishing has been bought by its landlord NBP (1) Ltd and Christopher and Gabriele Shaw of Newton Business Parks for an undisclosed sum.
Oldham law firm Pearson Hinchliffe acted for Mr and Mrs Shaw. Lupton Fawcett Lee & Priestley Solicitors in Leeds acted for the joint administrators. The business continues to trade as Shirley Dyeing and Finishing from Newton Business Park.
Joint administrator David Wilson said: “This is the best possible outcome in the circumstances, enabling one of the region’s few remaining textiles businesses to continue to trade and securing the jobs of its 14-strong workforce.”
