Administrators have axed 160 jobs at collapsed bedding firm Kozee Sleep after failing to find a buyer.
The body blow came at a meeting between the workers and administrators of the Ravensthorpe firm, who were called in just 11 days ago in a bid to salvage the business.
Just 14 of the company’s 174 workers have been retained to assist with the administration in the short term.
Kozee Sleep and subsidiaries Restus Beds Ltd and Hick Lane Bedding Ltd – along with a property investment company within the group, Hick Lane Properties Ltd – ceased trading shortly after the appointment of joint administrators Jonny Marston and Howard Smith on May 19.
Mr Marston, restructuring partner at KPMG, said: “Since our appointment, we have established the business’ financial position and conducted a sale of business process. Unfortunately, it has not been possible to complete a going concern sale at this time and regrettably this means the workforce cannot be retained.
“Our employee specialist attended the meeting we held with the staff to let them know the situation and provided an information pack to each employee, containing guidance on how to make claims for payments owed to them, for example arrears of wages.
“We have also shared information from the local job centre, with which we have been in contact.”
About 100 employees of the collapsed companies staged a sit-in a week ago at the firm’s premises in Ravensthorpe in protest at having received no wages for two weeks.
Employees who have been made redundant will now be able to claim outstanding wages from the Insolvency Service.
Kozee Sleep, based in 300sq metre premises on the Ravensthorpe Industrial Estate, was formed in Batley and by 1982 was distributing products under the Kozee Sleep banner. Its products range included adjustable beds, guest beds, headboards and orthopaedic beds.