Historic furniture business enters administration

WP Eglin, a contract furniture business which has traded since 1880, has fallen into administration.

Trading as Eglin, the Sowerby Bridge business designs and manufactures seating and table products for a number of sectors including education and primary care as well as offices and passenger terminals.

Attempts to find a buyer for the business as a going-concern have proved unsuccessful and the company has ceased trading, as it has run out of funds and proved unable to secure financial support. All 23 staff will be made redundant.
 
The business has been placed in the hands of  joint administrators Peter Sargent, Richard Kenworthy and Nick Reed of Begbies Traynor.

The joint administrators said they are optimistic that a buyer will be found for the company’s intellectual property and name.  The company’s substantial manufacturing facilities, Globe Works on Victoria Road, are also being marketed, offering redevelopment opportunities.
 
Legal advice to the administrators was provided by Andrew Walker of Irwin Mitchell in Leeds.
 
Peter Sargent of Begbies Traynor’s Halifax office, said: “It is always sad to see a business fail, particularly one with such a long heritage and loyal workforce.

“Eglin is a fairly small player in a congested market place, facing lots or larger competitors, and it was simply unable to secure the sales it needed to survive.
 
“We are currently doing all we can to support the former staff, including working with Job Centre Plus and using our own contacts to identify other employment opportunities.  Alongside this, we are also making every effort to secure a return for the creditors by marketing the business’ assets and are confident that the Victoria Road site will prove of great interest to developers.”