Fox attacks - a list of what happened?

[chooklady]

That's a shame, I prefer to buy Hemcore just because it was a British company and I prefer to support our own.

[The Dogmother]

Apparently they have gone into administration, which means that administrators have been appointed to find the best deal for shareholders etc.

 

This could mean closing it down completely, but they will see first if they can arrange for another company to buy it or there could be a management buyout by people inside the company. Let's hope it's one of the latter two options. In the meantime, the company will continue its services - if at all possible.

 

My daughter is an accountant and has been involved in administration. At age 25, she had to close down a toy company which could not be rescued - sacking staff who'd been there for years, reading meters, turning off the utilities and locking up - all by herself. Very stressful for everyone.

 

Tricia

 

That's interesting. Let's hope that someone buys them up, although I wouldn't hold out much hope in the current economic climate.

[Patricia W]

Grant Thornton are the administrators and are currently running the business, but have not to make a loss and can only continue trading with the stock already held. Hence, I guess, the price rise and the difficulty in getting supplies.

 

They are talking to 'a number of entities' to gauge what their interest might be in acquiring the business."

 

I think the bedding business is small fry compared to the rest of it, so maybe someone will buy it as a stand alone business, but the problem may be that it's not viable alone.

[The Dogmother]

That's interesting, I wonder whether the UK distributors of Aubiose will get in on the action.