An historic textile firm has ceased trading with all but two of its remaining staff being made redundant.
Westwood Yarns, based at Washpit Mills in Holmfirth, appointed administrators just before Christmas after experiencing cashflow difficulties.
Two weeks later, almost 100 staff lost their jobs and 38 were retained as the administrators continued to trade the business in a limited capacity to fulfil a number of orders and looked for a buyer for the business and its assets.
The joint administrators Paul Flint and David Costley-Wood of KPMG say a number of offers have been made for the company’s assets, which includes the freehold for the 8.5 acre site.
Read more: 94 jobs go at Holmfirth's troubled Westwood Yarns
A spokeswoman for the administrators said: “After operating the business in a limited capacity to fulfil a number of outstanding orders, and with a buyer unable to be found on a going concern basis, the company ceased trading.
“The joint administrators have retained two employees to assist with the sale of the company’s assets and other administrative matters, while the remaining 36 employees have been made redundant.
“A number of offers have already been received for the assets of the company, which includes the freehold for the 8.5 acre site, as well as plant and machinery.
“Offers for the plant and machinery are currently invited by private treaty. Those assets not sold by private treaty will be entered into an online auction at the beginning of April.”
Textile manufacturing at Washpit Mills dates back more than 100 years. Westwood Yarns, which would spin specialist carpet yarns, primarily for its largest customer, Victoria Carpets, was bought out in October. It ran into difficulties in the weeks leading up to Christmas, with director Richard Collinge describing calling in the administrators as “devastating”.
A number of workers who lost their jobs in early January were angry. Some said the firm had been so busy last summer, they were working seven days a week.
Asset enquiries should be directed to John Noon of KPMG on 0161 246 4801.
