dunlopillo firm enters administration
British Dunlop pillow maker said the administrator who entered the government\'s speech on Tuesday.
Directors of unlisted Yorkshire
Dunlop Latex Foam Co. , Ltd. also produces Dunlop-
KPMG said in a statement that the brand latex film, block and mattress in the global bedding market was the manager appointed by KPMG after failing to overcome financial problems.
KPMG is evaluating the prospects for trading the business in the short term while seeking to sell it as an ongoing business, the statement said.
KPMG spokesman said no.
Although she can\'t say whether the job is safe or not, one of them has been laid off.
Nor can she comment on who might buy the company with 155 employees.
The statement said that the existing shareholders of Dunlop Latex Foam acquired the company in 2007 and set up a new management team.
The spokesman said the company had private equity investment support, but she did not have any details about the identity of the investor.
The administration said the organization, headquartered in Pannal near Harrogate, was unable to address the pension deficit in the face of a sharp rise in costs and a slowdown in the economy.
In a statement, co-chief executive Howard Smith said dunlopilo was \"one of the few truly global brands in the industry \".
\"We are continuing to trade the company while discussing with external investors and buyers of the deal to ensure that it is ongoing --
Focus on sales, \"he said.
The company deals in most parts of the world as Dunlopillo International, selling products through regional distributors in more than 70 countries such as Australia, China, Europe, South Africa, South America and the United States.
The statement said that the company\'s operating profit for the first seven months of 2008 was about 400,000 pounds, compared with the previous year\'s operating loss of 100,000 pounds.
The annual turnover as at December 2007 was 16.
The spokeswoman said 8 million pounds. (
Philip Waller reports, editor Will Waterman)