Hundred jobs go at furniture firm

A TODMORDEN furniture making business due to celebrate its 125th anniversary next year has been placed into administration.

Family-owned James H Sutcliffe and sister firm Sutcliffe Furniture appointed Dermot Power and Tracey Pye from the Manchester office of accountancy firm BDO as administrators last Thursday, September 8.

The company has ceased trading and 100 of its 110 employees have been made redundant.

The administrators said that they are continuing to seek a buyer for the company’s assets.

BDO business restructuring partner, Tracey Pye, said:  “Unfortunately, difficult market conditions, fall in demand and cashflow pressures have hindered the business.

“The company and its business and assets had been offered for sale to a number of parties prior to the administrators’ appointment but ultimately there was no interest in such an acquisition.

“In light of the financial position, the administrators had no option but to bring the operations of the company to a close.”